Plain English Meaning
It is the slowest speed at which an instructor or test pilot is allowed to deliberately shut down or simulate the failure of one engine during training. Below this speed, doing so is considered unsafe because the airplane could become hard to control.
Full Definition
VSSE is the minimum speed, established by the manufacturer, at which an engine may be intentionally rendered inoperative in flight for pilot training or testing in a multiengine airplane. It is selected to provide a margin above VMC (minimum control speed) so that loss of directional control is unlikely if the simulated engine failure is mishandled.
Context Anchor
You encounter VSSE in multiengine training, especially before practicing or .