It’s a combination of listening, memory and differentiation. I listen for the harmonics/overtones, for bumps in the spectrum. Sounds reminding me of other sounds and attributes (fm-like, saw-like, supersaw-like, pulse-like, comb-like, vowel-like).
Differentiation refers to hear two sounds and being able to hear what is the difference. In this example, my recreation is good enough, except the long supersaw sound 
That one to me sounds rather different to the original (filtering), even though it’s similar enough to be recognizeable. I might finish that cover and fix that.
However, listening is the main skill. I never heard this track before.