Physical and spiritual

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The Pasuk says Yisro heard "Es Kol Asher Asah Elokim L'Moshe U'LiYisroel" what Hashem did for Moshe and Yisroel that he took them out of Mitzrayim. Why does it say Moshe separately and Yisroel separately. The Rebbe Reb Elimelech says that there are two different ways to look at Yetzias Mitzrayim. One is the fact that they were no longer enslaved by the Mitzrim and were free from their hard work. The other view is that we were rescued by Hashem who loves us and took us out of spiritual slavery to a situation where we can serve Hashem without any interference.

That is why it says Moshe and Bnei Yisroel separately. Bnei Yisroel enjoyed the physical freedom while Moshe saw the Afeila L'Or Gadol, the spiritual bleakness lit by a great light and closeness to Hashem. Yisro saw the two reactions and appreciated both. (Iturei Torah)
http://www.thejewisheye.com/rev_pyisro.html