Log Base 2 of 3 = ~1.5849625, so that's the limit to how well you can pack three-state values into bits of data.
For something more practical, you can pack five three-state values within a byte because 3^5 = 243, which is smaller than 256. To unpack, you divide and modulo by 3 five separate times. This encodes data in bytes at 1.6 bits per symbol.
But the packing of 5 symbols into a byte was not done here. Instead, they packed 4 symbols into a byte to reduce computational complexity (no unpacking needed)
There's the ARM video from LowSpecGamer, where they talk about how they forgot to connect power to the chip, and it was still executing code anyway. According to Steve Furber, the chip was accidentally being powered from the protection diodes alone. So ARM was incredibly power efficient from the very beginning.