Presumably, medial motion refers to pointing your toes inwards and lateral to pointing your toes outwards, but that doesn't really explain it.
If used in their strict anatomical sense, then Medial means towards the centreline of the body, and Lateral away from the centreline, so for example, the medial side of the knee is the side closest to the other knee whereas the lateral side of the knee is the outside of the knee. So your presumption is probably correct.
What Puma actually mean is anybody's guess.