That formula for determinant is just a conveniently written form of the formula that you already know(the permutation sum). You basically have, by contracting the identity he has given over all free indices:
$$\det A = \frac{1}{4!}A^\alpha_{\hphantom{a}\mu} A^\beta_{\hphantom{a}\nu} A^\gamma_{\hphantom{a}\rho} A^\delta_{\hphantom{a}\sigma} \epsilon_{\alpha\beta\gamma\delta}\epsilon^{\mu\nu\rho\sigma}$$
for some ##4 \times 4## matrix ##A## (this is Leibniz formula). For ##n## dimensional case you'd have ##n## indices above.
We can try to check it like this:
First we remember the actual Leibniz formula for expanding the determinant:
$$\det A = \sum_\sigma \text{sgn}(\sigma_i) \prod_{i=1}^{n} A_{i,\sigma_i}$$
where ##\sigma## is a permutation of indices, and ##\text{sgn}(\sigma)## is its sign.
Now we notice that this can be rewritten in the form:
$$\det A = \sum_{i_1, \dots, i_n} \epsilon_{i_1 \dots i_n} A^1_{i_1}\dots A^n_{i_n}$$
This is because ##\epsilon_{i_1 \dots i_n}## is nonzero only if ##i_1, \dots, i_n## is a permutation of indices, and it equals the sign of this permutation.
In ##4## dimensions, this formula is written as(using Einstein summation convention for repeated indices):
$$\det A = \epsilon^{\mu\nu\rho\sigma} A^0_{\hphantom{a}\mu} A^1_{\hphantom{a}\nu} A^2_{\hphantom{a}\rho} A^3_{\hphantom{a}\sigma}$$
Now if we return to the first formula for determinant which we wanted to explain, if we formally sum that formula over indices ##\alpha##, ##\beta##, ##\gamma##, ##\delta##, we find the formula above(in that we use that epsilon is totally antisymmetric, and we use that ##\epsilon_{0123} = 1##, if that's the convention we use).
Finally, we would like to see if the transformation law that
@samalkhaiat mentioned holds. For that, we just notice that the formula above is antisymmetric with respect to the indices marked by ##0##, ##1##, ##2##, ##3##. So if we want to make the equivalent formula to this with a random permutation of ##(0123)##, we would find the same formula, just multiplied by the sign of this permutation. But this sign is, as we said before, denoted exactly by ##\epsilon^{\alpha\beta\gamma\delta}##, where ##(\alpha\beta\gamma\delta)## is the chosen random permutation of ##(0123)##. Thus we have for every value of free indices:
$$(\det A) \epsilon^{\alpha\beta\gamma\delta} = \epsilon^{\mu\nu\rho\sigma} A^\alpha_{\hphantom{a}\mu} A^\beta_{\hphantom{a}\nu} A^\gamma_{\hphantom{a}\rho} A^\delta_{\hphantom{a}\sigma}$$
This explains the transformation law of ##\epsilon## symbol.
All in all, it's not a trick, it's just the normal determinant formula written in the form of a contraction.
It's a very convenient formula, and you'll probably find it useful on numerous occassions, so it's good to know.