Each Individual X360 Game set to run on XBox One through the Backwards Compatible layer. This does not involve using the original game source code and compiling to target the Xbox One [recompilation step would be here, but it does not happen]. Instead, the binary artifacts of the game have been put through an ahead of time static translation to shift it into something suitable to run on the x64 Xbox One Backwards Compatible layer. The results of this are then repackaged as a x64 Xbox One game.
Compilation is the same as translation. The usual form of compilation is source code to machine code, but machine code to machine code is compilation as well.