name_method is the name of a plsql function that will 
return a human-readable name for an object of that type with a 
specified object_id. It's called by 
acs_object.name(), so 
you can for example
select object_id,acs_object.name(object_id) from acs_objects
and get human understandable names without having to know 
what type of objects you're dealing with or how they're named.
one example of this is /permissions/ which needs to 
display object names that make at least some sense to 
people, but has no need to have any in-depth understanding of 
the objects it's assigning permissions to.
as for abstract_p, I was under the impression that it 
was a wart left over from the original design of the acs4 object 
model, and isn't actually used for anything. ISTR that it was 
meant to flag object types that would never be instantiated, just 
derived from. (but take that with a grain of salt - I haven't looked at 
that in a while)