SelectiveMatteExtraction is a Matchbox shader that extracts the matte from a Selective node, and makes it an Action pass output. It is only used in Action.
To extract a matte from a Selective:
SelectiveMatteExtraction used to extract a matte created from ZDepth data
This ensures it outputs the Selective result as a Matte in the Comp (Primary) output. See About Rendering Outputs from Action for information on render layer outputs.