1st difference-> one can use embedded view and one use $$viewbody,all are work in same but in a form the embedded view take large sapace where as $$viewbody take small sapce that is one field and remain sapce of form u degin as u wish.
2nd difference-> $$viewbody runs only web not in notes.
Step of creating $$viewbody
step-1->First u create form and take two field name and adress and save it
step-2->Then create view for this form and save it(ex-vemp)
step-3->create another form and take one field name as $$viewbody and give view name “vemp” as deafult value
$$viewbody was the only way to add embedded views back in notes 4.5 from what I recall. It is still supported for backwards compatability. Yuo can use either method, although you obviouslly don’t have any options when using the $$viewbody field.