The Refraction Filter Render Element is an image that stores refraction information calculated from the materials' refraction values in the scene. Materials with no refraction values appear as black, while refractive materials appear as white (maximum refraction) or gray (lesser amounts of refraction). If any hue (color) is specified in the material's Refractive Color parameter, that hue and value will be represented here in the Refraction Filter as well as being affected by the refraction's Amount parameter.
To properly calculate the Refraction Filter Render Element, the Refraction Render Element must also be added to the list of render elements being calculated during the rendering process to properly determine all the refraction information in the scene.
To use render elements, select from the Available render elements column and click the Add button to add the passes you wish to generate at render time. When you render the scene, the added render elements listed in the column on the right, will also render, which can be viewed from the VFB window's channel drop-down menu.
For more information on the parameters on this dialog, see the Render Elements tab page.