Yep, it's a checklist that happens when controllers are changing for breaks etc. Consists of going through things like traffic conflictions, who you're talking to, who's been switched, ride reports, equip. status, navaid status, other issues, etc.
And at the start you can hear him say "...on the ground, no navaids are broke, (inaudible)...flow control" then he goes on to list of all the equipment, and you can hear him say " ...computer's ok, radar flow is good ..."