The patch makes it so that markers names get an offset in the y axis not only when selected, but also when near the current frame.
The markers get affected for 5 frames in total, as in 2.7, starting from the current to the next four ones.
ps. @Jacques Lucke (JacquesLucke) I might be missing something but, why there are two for loops? They do the same thing and one or the other will execute for sure.