Yeah, general modding like adding mod chips, or soldering on bios mods is pretty technical but can be learned with persistence. I 100% agree with mazonemayu here. Best is just to search YouTube for how to videos of each particular mod you want to do. I have all the equipment to mod my consoles, but I am still hesitant to mod my only 360 as I use it for playiing the exclusives online that I can't play on PC. I jailbroke my PS3 recently but that required no extra equipment and was the definition of a true softmod such as can be done with OG Xbox or Wii.
The terminology part will just come to you naturally over time as you familiarize yourself with everything. Just practice on old broken PC and console motherboaards, or alternatively buy broken systems online to try and repair. But I will admit you won't get anywhere fast if you don't know the very basics about electronics.
I have self taught myself how to work on computers and consoles over the past 13 or so years. I can tear down a PS3 and rebuild them in no time as I have had to do it too many times to count when trying to reflow peoples YLOD systems over the years. Not worth it as those BC systems just keep getting the issue 6 months later lol.