Fixed Size keeps the root the same size regardless. DPI adjustment is for resizing UI, not fixed size.
iPad 2 is 1024x768 with DPI of 132.
iPad Retina is 2048x1536 with DPI of 264.
If you create a pixel-perfect UI without DPI adjustment, then the UIRoot will believe that its resolution is 1024x768 on iPad 2, and 2048x1536 on the iPad Retina.
If you create a pixel-perfect UI with the DPI adjustment turned on, then the UIRoot will believe that its resolution is the same on both. How same? That's determined by NGUIMath.AdjustByDPI function, and is where the "experimental" part comes in. Currently it just uses 96 / DPI setting, which results in 96/132 on the iPad 2, and 96/264 adjustment on the iPad Retina.
So even though the retina device has double the resolution, as far as NGUI is concerned it will have the same screen size as the non-retina device due to the DPI adjustment.