It won't go into 4th as easily as normal driving is what he's saying.
The Tow/Haul mode is just a change in the shifting characteristics of the transmission, but if you're cruising in town and never going above 45mph, I personally want to keep O/D off but on the '05 trucks they only had tow/haul and would shift into O/D right around 40-45mph with light load.
There were enough complaints about this that now in '06 they have O/D off and Tow-Haul mode.
In prior years it was always O/D off. People weren't smart enough to know that they should use that when towing so they changed the name to Tow/Haul Mode and it was still the same function. Then, like I said, in '05 they changed it to different shifting characteristics but there was no way to turn O/D off.