Warning: I'm not really that up on the technical side of things, so the following explanation might be incorrect. It is what I've always assumed "rolled off" means. Hopefully, others will chime in and correct me if I'm way off target.
Anyway, my perception of roll off with regard to high frequencies is a gradual decrease in the decibels at the frequency range heightens. In other words, at 12 K decibels, there might be a 1 decibel decrease in the volume of sound; at 13 K, a 2 decibel decrease, at 14 k, a 3 decibel decrease and so forth.
The effect on sound is that the higher the frequency, the less volume and consequently less pronouced detail will occur. Some feel that a speaker element with more roll off will sound warmer due to the softened high frequencies.
Again, I may be WAY off base here, but thought I'd give it a stab as nobody else responded.
I hope, again, someone corrects me if I'm wrong. I can always use a little education myself.