I don't think the micro-sleep deal is impossible.
Someone linked a graph earlier about how electric motors are more efficient under higher loads. Especially in the AWD, I wouldn't be surprised if there's some way to micro-pulse between both motors at higher loads that drivers would not perceive, while cruising at any speed. That in itself seems like an opportunity--two motors alternating higher load bursts would have the same overall energy output (doesn't violate physics), but would be more efficient.
Does anyone know how heat would affect motor efficiency? Perhaps micro-sleeping has some sort of neat efficiency gain from this, if this is the case.
Battery capacity is another area that's possible to increase OTA, as the full capacity is not used. I wouldn't be surprised at all if MUsk has found some way to limit lion power cycle degradation through some sort of crazy algorithm.
Math can be crazy powerful in the right applications. One good example of this would be Leap Motion's technology compared to anything else on the market. Super-cheap equipment was orders of magnitude more powerful/quick/accurate than other motion capture device out there, and it was all because a smart guy developed a crazy algorithm that turned three webcam-grade IR cameras on a small flat surface into a real-time 3d scanning apparatus. I'd be very surprised if there's not some sort of application here with electric motors that could be improved via a complex algorithm.
There's also the possibility that the press conference is really for something else, and Musk's tweet is going to be a more minor navigation-related feature. The conference doesn't just have to be about his tweet, and this is probably the more realistic outcome.
Thursday is my birthday, so I'm hoping it's something with substantial (20-30%) range increase, and increases Tesla stock by a similar amount