Google, trying step by step to rebuild everything in the computing industry from internet protocols to cloud-computing services, began a new project called WebM on Wednesday that seeks to begin a new chapter in web video, CNET reports. Even after Google’s high-profile WebM announcement at its Google I/O conference, there’s plenty of confusion, and some questions concerning the technology can’t be answered yet. Here, however, is our attempt to demystify WebM and its effects…