An APC receiver is just like an AWS receiver, it contains a reed switch which is operated by the APC magnet. The newer devices use Hall effect to drive some electronics instead. Either way they are interchangable.
Before entering the neutral section the driver should remove power so that you're not entering the neutral section under load. That results in a sudden loss of power which can send a jolt down the train, it also doesn't prolong the life of your VCB/ABB switching all that load!
The tap changer operated vehicles take longer to off load their power (as the tap changer has to wind down to zero) and vice versa when re-applying hence they can lose more speed in a neutral. The really good drivers will have the 'power' hit zero as soon as they hit the APC magnet. The later AC loco classes and units with phase angle or inverter drives don't suffer so much as they can ramp down and up again within seconds, hence you can shut off much earlier.
There's a good video on Youtube
here of a well known GBRf man in the chair on an 87 (325 drag). You can hear (at about 1:15) the contactors drop out just before the APC magnets are hit (when the fans stop and there's quiet!).
You can also see the APC magnets on the clip above, oblong objects either side of the track. Some are painted yellow, newer magnets are not painted and are quite small.