Voltage Compensation is, in all likelihood, referring to Temperature Compensation, (T.C.) as said. See page 32 of 64, in the manual linked above.
A hot battery must be charged at lower voltages, to avoid over-charging and excessive gassing. Cold batteries require higher charging voltages to achieve a full charge. So, on a hot battery, one might charge at say 14.6v, whereas on a cold battery, one might charge at say 15.1v. T.C. does this automatically... which is good because it also compensates for the battery warming up during charging.