E Nice posted...It reflects elemental bullets. I've seen them fly and hit enemies. Whether it'll trigger is another matter. Sometimes they do and sometimes they don't. Best to have it maxed out in order to up the chance.
I don't really know for explosive bullets, as I mainly used corrosive or fire. maybe someone else can shed light on explosive bullets.
I don't know about rockets or Torgue rounds either, but I can say that reflected elemental rounds do still have a chance to proc. I've seen enemies take fire DoT when not running Helios.
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XBL GT: LazarusNecrosis
The best techniques are passed on by the survivors. --Gaiden Shinji 1E 490