Direct link to the correct Bit Twiddling Hacks section.
You should just do the math to see why those numbers were chosen.
                                         abcd efgh
    *                          0000 1000 0000 0010
    ----------------------------------------------
                          0abc defg h00a bcde fgh0
    &                     0010 0010 0001 0001 0000
    ----------------------------------------------
                          00b0 00f0 000a 000e 0000
                                         abcd efgh
    *                          1000 0000 0010 0000
    ----------------------------------------------
                     0abc defg h00a bcde fgh0 0000
    &                0000 1000 1000 0100 0100 0000
    ----------------------------------------------
                     0000 d000 h000 0c00 0g00 0000
                          00b0 00f0 000a 000e 0000
    |                0000 d000 h000 0c00 0g00 0000
    ----------------------------------------------
                          d0b0 h0f0 0c0a 0g0e 0000
    *                     0001 0000 0001 0000 0001
    ----------------------------------------------
      d0b0 h0f0 dcba hgfe dcba hgfe 0c0a 0g0e 0000
    >> and convert to 8-bits
    ----------------------------------------------
                                         hgfe dcba