Google+ users can now use Hangouts on iPhone, iPad
digitaltrends.com
digitaltrends.com
The thing that actually changed is that Google+ is now a real universal app with an iPad-specific UI. The headline is misleading.
Are all of those moving video, or just the large main one?
And, if all video, is it possible to split 2 windows into equal size, side by side?
No, there is not a way to configure a side-by-side split.
The system does a pretty good job of detecting who is speaking at any given moment and switching the large view to contain their video.
I haven't used it, though.