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I recently started with Grey Knights and just read through random stuff about the dreadknight and a nemesis greatsword. I took it mostly out of pure coolness, but not sure about the stats.

WIth the 6th it's an unusual force weapon (Which leaves it with Ap3). But read somewhere that monstreous creatures have AP2.
Are they refering to the "Smash" rule or do monstrous creatures still have an armor neglection of some sort ?

Its referring to the Smash special rule.

Appreciated, thank you

Note that the Smash rule makes all the Monstrous Creature's close combat attacks AP2 (unless they already have AP1), not only the Smash Attack.