Can someone please explain this attack in lye-man language?
it means you change something inside of any transaction you receive so that the final transaction hash changes but the transaction doesn't become invalid. so anybody could do that, you won't even need to run a node! you just have to listen to a node and receive/relay transactions.
for example changing signature was a way to malleate a transaction. one way is to inject ignore-able OP codes like OP_0 in it, another was to change S value to -S since on an elliptic curve (x,y) is congruence to (x,-y). both of these change the transaction hash (TX_ID) but won't make the transaction invalid.