The % is the modulo operator. It gets the division remainder between two numbers.
For example: 375 % 360 = 15, 360 % 360 = 0, 90 % 360 = 90, etc.
Step 1: Angle % 360
Single angle could be negative or positive, the first modulo returns a remainder between -359 to +359 degrees.
Step 2: Add 360 degrees
Returns the positive quadrant equivalent: (ex: -90 degrees would be pointing upward, this returns 270 degrees)
Step 3: % 360
If original angle was positive, step 2 would have caused it to exceed 360 degrees, so take the modulo again.
More information: http://stackoverflow.com/questions/1351925/why-does-2-mod-4-2