As far V2 goes it is an additive layer that imparts transparency to the opaque layer underneath it -- it is the basis of AGS Clear in V2. I discovered by playing around that you can also impart the thinSSS qualities via the ghost layer as well... which is why I advocate experimentation and exploration.
AGS got it's start all the way back here:
http://www.maxwellrender.com/forum/view ... gs#p140864
This isn't what I would call a normal case material in V2 -- this is a special case layer as far as I know.
My reasoning for trying to use the ghost layer technique with ThinSSS is because I was having issues with controlling aspects of ThinSSS behavior and was looking for a way to gain better control of the final material particularly in the realm of color, translucency, and noise.
Best,
Jason.