"Floptical" generally was a term to refer specifically to 3.5" floppy-sized MO disks/drives. "MO", or "Magneto-Optical" is a generic term for any type of disk that is read optically (like a CD-ROM, with a laser,) and is written to by heating the section with the laser, but then actually changing the bit with a magnet. (Much older technology than CD-RW, which uses solely a laser to write.)
I have some old 230 MB MO drives/disks, that have been *VERY* reliable. (Mine are thicker than a normal floppy, so I don't call them 'floptical', which to me, means ones that are physically compatible with 3.5" disks.) I used one as my only drive of any kind on my IIfx for a few years. (The floppy drive was dead; my special black terminator was broken, so the HD wouldn't work; but this external drive did.)