All regular OLPFS attenuate UV, IR and visible wavelengths to govern colour reproduction, making it as close as possible to a human experience of colour.
The Full Spectrum filter allows the camera sensor to see the entire range of wavelengths to which it is naturally sensitive. This means that you will have a colour image, whose colour is distorted by the presence of IR light. IR light is invisible to us, so its presence is hard to predict, but many light sources produce it. Additionally, many surfaces, especially leaves, skin, and man-made fabrics reflect a disproportionate amount of IR, creating unexpected brightness and contrast.
The IR spectrum filter removes all visible light from the image, but allows the camera to see infrared light (720nm to 950nm) which would otherwise be filtered out. The result is a monochromatic pink-hued and low-contrast image representing only this invisible light. Many objects have a very unusual appearance, blue skies become dark, skin becomes almost translucent, and direct IR light sources like LEDs become amazingly powerful and bright.