A crypto-equity is a more accurate description of what a crypto-currency is. Bitcoin is first and foremost a crypto-equity, when it is used as a medium of exchange, it becomes a crypto-currency. In the same ways shares in Apple (AAPL) are first and foremost an equity, but if they became bearer shares and started circulating in barter transactions they could become a currency as well.
I was working on the latest FAQ page to help add some clarity and thought this particular answer was worth reposting here...http://18.104.22.168/faq/
Please let me know if you have additional FAQ items... I will be migrating FAQ items from the current bitshares.org site as I review them for accuracy and clarity.