No, none of the above are correct, actually -- but good guesses. Shields and forcefields are two very different things, and are never used interchangeably. Normally ships with very high shields -- bombers, for example -- are extremely hard for shorter or midrange ships to hit from any real distance. Shields reduce the effective firing range of any non-sniper-ranged attacker, in essence.
What this ability does is remove that penalty, so that highly shielded targets are not any harder for the attacker to hit, which can be a significant advantage against shielded targets (having a very high attack range provides a similar benefit, but for those ships with a high attack range and this ability, it makes the ships able to fire effectively from further away, which has other advantages).