http://www.digitalprognosis.com/album/images/iraqpics/the-st...
The slats are smaller than the height of the outer explosive and prematurely detonate it. As a result, the penetrator simply bounces off the armor harmlessly.
If the explosively formed jet forms more than a few inches from the armor, it's way less effective.
The "cage" slats can be effective against both.
http://www.cbsnews.com/news/us-sees-new-weapon-in-iraq-irani...
So, three projectiles in the same spot?
It was probably made the NIJ standard because it's the only somewhat common AP ammo a US cop is likely to go against on the street, as noted by extrapickles the serious AP ammo is a lot more expensive, and I'll add not really legal any more since there are some pistols that'll fire it.
Notably, ESAPI military equivalent plates also aren't certified to stop anything more serious than AP M2, and I assume again for the same reason, there is or was a lot of surplus AP M2 ammo out there at one time. In the US civilian marketplace it's pretty much dried up as I understand it, e.g. see the few hits this GunBroker.com search finds and the prices: http://www.gunbroker.com/Ammunition/BI.aspx?Keywords=ap+m2 and I can't find any demilled bullets there or with a couple of minutes of Google time, whereas they were commonly available not too many years ago, certainly within the last decade.