Encrypted values, stored in the DB as binary data ( usually stored as VARBINARY or BLOB ).
Not sure about other DBMS but MySQL has native support for encryption via aes_encrypt and aes_decrypt functions.
Export usually (Heidi 9.3) looks like this:
(1, _binary 0x7CF9E42A3EEE064633780DB29695AD7D43204D6FCF7175A949D85E16336E4F8CBCAEC43403E050E220893FC01D36A2F4,
when the new one exports something like this:
(1, '[binary content broken and removed]',
PS. This might be related to the libraries supplied, cos installing 9.3 and running 9.4 binary from same directory works fine.