The general idea is to do a Zone 2/3 (ie - easy to moderate, so a fat burning kind of workload) ride when your glycogen reserves are depleted. The theory being, if there is a shortage of glycogen then your body will be more inclined to use it to burn fat, rather than just use it to power muscles.
I think it works. My variant was to go for a 40km ride in the evening, a couple of hours after dinner, then do another 40km ride the next day before breakfast.
Something changes - because when I started audaxing I needed to eat at least every 50km, but now I can ride 100km straight off, on an empty stomach.