From official documentation I was just given, it looks like the feature allows the backup routers to also act on traffic destined to the virtual IP/MAC. Makes sense.
"An IP router will only IP route a packet if the packet was sent to its MAC address (or any
other MAC address it has been programmed to “own”). By letting both VRRP routers
“own” the VRRP MAC address, both routers are able to perform IP routing for it in an
active/active fashion."