Don't worry Scotty Mac while the guide indeed does look more Gigabyte focused the terms are easily explained.
First thing to remember is only overclock 1 thing at a time, otherwise troubleshooting is a nightmare.
So CPU on its own to start with, do not overclock the ram, set it at 1600MHz so turn off the XMP profile if you have that enabled.
Do the graphics card later on, too, for the sake of stability.
Have a quick search for overclocking MSI Z87 on the old Google, check out some of the videos, it won't take long for the terminology to hit home
Things that you may want to look up
Multiplier will often be split between core and uncore, uncore is all the bits of the cpu that aren't actually crunching the numbers, all the controllers etc are in Uncore, and these days (different from Ivy Bridge) it has been determined to leave the multipliers for uncore at stock where possible.
Core multiplier is where you will set the MHz you want.
Vcore, is pretty much the most important voltage setting, make sure this is manual and not auto so it doesn't go nuts, try I would stay below 1.3v unless you have some very serious cooling.
The multiplier and vcore can initiate an initial overclock that can then be tweaked.
Load Line Calibration of LLC is a setting to check out, I have personally found this useful to assist stability.
Dont forget to turn off SPREAD SPECTRUM as that will hinder the overclock.
make sure your CPUZ software is up to date and that you have something like HWMONITOR for keeping an eye on temperatures, the CPU will do 95 before it gets in the region of complaining, but of course that's not a great temperature to run at.
I have been happy with temperatures topping out around 72C under load (games etc) and about 80C when benchmarking/stress testing.
If any of the terms don't show up in your bios, do a quick search to see what the MSI equivalent is.
p.s. the most common BSOD you may see is one with a number ending in 124, that usually means the system wants a little more VCORE voltage.