Apparently this star system as mentioned had been spotted before.  It was the other star they did not know about:

Space scientists have known of the existence of the KELT system for several years, but it was thought that the binary stars were actually just one star. The researchers on this new effort were able to see that they were actually a binary system courtesy of two robotically controlled telescopes on two different continents—one is in Arizona, the other in South Africa.

And what are the effects on the planet?  We have seen a planet in a binary system before but this is new.  Feel free to comment with any theories and check back for more info as it comes in.

here is an excerpt about binaries from wikipedia:

If components in binary star systems are close enough they can gravitationally distort their mutual outer stellar atmospheres. In some cases, these close binary systems can exchange mass, which may bring their evolution to stages that single stars cannot attain. Examples of binaries are Sirius, and Cygnus X-1 (Cygnus X-1 being a well known black hole).

Image Credit: NASA/JPL

thanks to phys.org for the great info