I have used this set with about the same experience as those above. After Hal asked why this set keeps coming up in discussion I went to where I found it.
From the pages of Fur Trapping by Bill Musgrove and Gerry Blair under sets for raccoon:
Shiny-pan set:
The raccoon is a curious animal and is constantly looking for something to eat. It will pick up and handle any shiny object. Many coons have been taken using nothing but a can lid or a piece of aluminum foil over the trap pan as an attractor.
This set is best used when it is made in the water. Put the trap or traps in water 2 to 6 inches deep and near the bank. Wrap aluminum foil around the pan. Lure can be placed on the bank if desired to act as a call for passing coon. The set works best if it is placed in the shallow water below a vertical bank. Rig the trap as a drowner if the water depth permits. If this is not possible, use a drag to allow the coon to pull away from the water and hide in the nearby cover.
Now that I have a little experience and read that description with a critical eye, this sentence stands out in that description. “ The set works best if it is placed in the shallow water below a vertical bank.” That leads me to believe that the set is more or less a blind set with a shiny-pan augment. I can only speculate on the purpose of the augment.