Microsoft call this hybrid language the Office Math Markup Language, or OMML for short.
Math Builder is a much easier to use tool that has less functionality than LaTeX but more than typical document processing.
The mathematical community almost universally accepts a typesetting language called LaTeX. Typesetting mathematics on a computer has always been a challenge. Note that this is a different tool than the legacy tool Equation Editor 3.0 (which is still available on 32-bit Office versions until the January 2018 update ) and MathType.
It also applies to Microsoft PowerPoint and Excel 2010 and higher. This book is about the Math Builder (officially called as Equation Editor) tool in Microsoft Word and Outlook 2007 and higher.