Note. Unity 5 introduced the Standard Shader which replaces these shaders.
Reflective shaders will allow you to use a Cubemap which will be reflected on your mesh. You can also define areas of more or less reflectivity on your object through the alpha channel of the Base texture. High reflectivity is a great effect for glosses, oils, chrome, etc. Low reflectivity can add effect for metals, liquid surfaces, or video monitors.
Is something described here not working as you expect it to? It might be a Known Issue. Please check with the Issue Tracker at issuetracker.unity3d.com.
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