The document at http://www.staff.uni-mainz.de/schneidj/papers/gestatten.pdf seems reasonably clear.
In section 2.2 it describes node insertion, which cuts a node out from the tour and pastes it back between two other nodes which previously came one after the other (there is also a picture of this).
Section 2.3 describes 2-opt, which I believe you understand.
Section 2.5 describes 3-opt and works out some statistics about it. At the very end of this section it shows that node insertion can be treated as a special case of this, with slightly different statistics and that, for this reason, node insertion is sometimes called 2.5-opt. Like 3-opt it cuts three links, but like 2-opt there are about O(N^2) possible such moves.
In case the link gets broken again, the reference is:
On the Neighborhood Structure of the Traveling Salesman Problem Generated by Local Search Moves Günther Stattenberger · Markus Dankesreiter · Florian Baumgartner · Johannes J. Schneider