Two projectiles. First one explodes on impact and compromises the target. Second one penetrates the target.
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?