How does MH "age" characters?

I'm really interested in MH's character setup itself. I'm wondering: how is a character aged up and down? I understand there are a lot of targets to move through. But in the program itself when you adjust the slider, what is happening? Is it just applying a target morph? If so, are the bones for the skeletons applied after that in some way? Or is the character scaled with the joints and then the morph applied? Really curious. Trying to recreate this effect in Blender or Maya.