I couldn't find any online instructions either. I IM'ed a very experienced knitter I know and she explained it to me. For the most part it seems reasonably simple. You carry both colors at all times, and simply use a wrap technique to hide the currently unused color behind the active stitch.
Slip your needle through the stitch to knit, wrap the unused color clockwise, wrap the working color the normal way, then take the unused color back counterclockwise and then work the stitch normally. I tried it as she explained it and have done several rounds now, and the unused color is hidden but still carried along without loose strings in the back.
I did misunderstand one point, she said to do this for every stitch to totally eliminate all of those string in back instead of every few stitches as I mistakenly said earlier.