I too think of Center Weighted as "hybrid" of Matrix and Spot metering modes but I don't care for it much because so much of the time my subject is NOT "dead center" in the frame unless I'm shooting portraits.
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Center Weighted is not really that sharply defined. Its effect is more like a Gaussian bell curve shape (not a sharp circle). But larger, not comparable to Spot.
I never change it from default, but Center Weighted is selectable size. A DX frame is up to 16mm tall. Center Weighting default is a 8mm circle, but it can be 6, 10, or 13 mm diameter (if DX, and FX has its similar selections). That can be most of the important area, but this center dimension is "weighted" for 75% of the total importance. The rest of the frame has importance of about 25% (the bell curve shape). So it is kinda full frame, and we can only have one exposure setting, and to determine it, this is just saying that intensities in this center area are 3 times more important than edge intensities. Seems right to me.
For Matrix, Nikon only says Gee Whiz words, so we have no clue what it does, but the only identifiable action of Matrix that I see is that very bright spots at frame edge can reduce the exposure of the center. I don't see any advantage of that.
For example, TTL flash (including TTL BL) only meters in the center. It is not exactly the same area as Center Weighted, I think a little smaller than default (DX FV Lock specs say 4 mm), but camera has its own center area for flash metering. So, Matrix or Spot or Center W selection is ignored by flash metering, it always uses its own center area (Spot Metering does however switch TTL BL mode to be TTL mode, to be independent of the ambient).