In short, it seems that the library does not actually provide a parameter select.
In general, in situations where the documentation is not very accurate, the method that I often use is to console.log argumentscheck what each one looks like.
In this situation, when executed:
$('#example-onChange').multiselect({
onChange: function(option, checked, select) {
console.log(arguments);
}
});
... I got the following result:

... from this you can see two arguments. The first is the jQuery object that was clicked. The second (you can assume) is logical as to whether the option is selected or not.
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