$
and $$
are just convenient shortcuts.
$("selector")
is an alternative for element(by.css("selector"))
.
$$("selector")
is an alternative for element.all(by.css("selector"))
.
FYI, quote from the source code:
ElementFinder.prototype.$ = function(selector) {
return this.element(webdriver.By.css(selector));
};
ElementArrayFinder.prototype.$$ = function(selector) {
return this.all(webdriver.By.css(selector));
};
And the actual commit that initially made it happen.