Basically they are saying that there's an area nearby you that does actually have LTE towers. Signal *might* be strong enough to reach the LTE towers ... They also might not. For you, they aren't.
Personally I think the "Extended Coverage" thing is a scam ... I live well within the LTE Coverage area, and I do get 2 bars of LTE from my house -- which yields about 2Mbps down and 200Kbps up (Comparable to AT&T's UMTS service). If I drive towards the tower that serves my neighborhood, as soon as I'm at 4 or 5 bars, I can get 10-20Mbps down and 7-10Mbps up.
The map in my area shows the "Extended Coverage" going out about 10 miles away from the "LTE Coverage" area, but I'm only about 2 miles from the tower, and have very borderline signal already. I don't see how anyone 10 miles away, but still in a urban/suburban area will ever get a working signal on LTE, and I think they will just always end up on EVDO.
I hope EVDO is good in your area (It's not in my area, but I have friends who say that the EVDO is much faster than AT&T's UMTS in their area).
In the long run, it won't matter -- Verizon will probably have LTE throughout their footprint in about 1 year, and if you're in "extended coverage" now, they will probably upgrade your towers sooner than that.
Besides, you likely spend some time working/playing in the LTE area (Isn't that the point? I only use LTE when I'm on the go, in the house I use Wi-Fi, which is faster than LTE anyway)
