From http://lists.w3.org/Archives/Public/public-comments-wcag20/2006May/0119.html
variations in presentations of text
changes in the visual appearance or sound of the text, such as changing to a different font or a different voice
Web authors now have to worry about sound of text? How, exactly? We don't control people's screen readers. (Does this mean we have to find a way to mark up intonation and prosody in our podcasts? How, exactly?)
SC 1.3.4 has been folded into SC 1.3.1, in order to clarify that text variations are one of many types of design that must be semantically identified. SC 1.3.2 is thus more clearly specifically about the non-semantic aspect of the visual design specific to color. As a result, the definition has been removed from the document.