It means that the barrel is "normal" diameter at the breech, tapers down to a thinner profile in the middle, and flares back out at the muzzle.
I believe the purpose is reduce overall weight on a long barrel, while preserving sight radius and providing weight where needed for steadiness.
I know they feel better than a "normal" straight barrel, and don't weight down your front hand.
They do cost more, and are harder to inlet.
Hope this helps! Marc