Cas is column access strobe. What that means exactly, I haven't a clue. But the number is how many clock cycles it takes to do. DDR memory can do two things per cycle because it can do it at the beginning and the end. So, cas 2 happens in two cycles but cas 2.5 needs an extra half a cycle.
So without knowing exactly what the setting means, you know that cas 2 will be quicker by 1/2 a cycle. In real life, you will never notice unless you run benchmarks like sandra or memtest 86.
Hope that helped.