If $M$ is a manifold then what is denoted as $\overline{M}$?
I am guessing that it means a reversal of orientation.
Related to the above I would like to understand the following construction of a $d$-dimensional Riemannian category that I recently came across:
Objects are $(d−1)$ Riemannian manifolds. Morphisms between two oriented $(d − 1)$-dimensional Riemannian manifolds $N_1$ and $N_2$ are oriented $d$-dimensional Riemannian manifolds $M$, such that $\partial M = N_1 ⊔ \overline{N_2}$. The orientation on all three manifolds should naturally agree, and the metric on $M$ agrees with the metric on $N_1$ and $N_2$ on a collar of the boundary. The composition is the gluing of such Riemannian cobordisms.
I would like to know more about this intuition of defining a morphism between two manifolds as another manifold itself! One is used to thinking of morphisms as maps.
One intuition is from physics: one thinks of $n$-manifolds as "space," and of $n+1$-dimensional cobordisms between them as "time evolution." A nice introduction to these ideas is Baez's Physics, Topology, Logic and Computation: a Rosetta Stone.