Brian you got my curiosity up so I found a few answers... Just a few as there were many more. These are from some members and sponsors.
Dick in Seatle...power lams are short, tapered laminations that serve to extend the very thinnest part of the fades so that the bow doesn't curve too close to the riser. In other words, it moves the power up the limbs. They're a complication in a simple build and I resisted using them, but Kirk (who is a sponsor here) kept telling me to try them so I did. I extend the pl's 3" to 4" past the end of the fades, so with the 18" riser I use on bows for myself, I use a 24" to 26" pl. Depending on the weight of the bow, these will be from .100 to .130 in the center with the taper going to zero at the ends.
Sixby...I build for short or long draw by adding or adjusting power lams in the stack. This allows you to use a conventional length riser and shorten or lengthen the working area of the limb so that it performs best at the draw length you want it to. You will never get a short draw to perform like a bow with several inches more string time but you can get a short draw to perform at the best level for that draw. A bow designed to draw 28 inches does not cut the mustard for a 24 in shooter compared to that same bow designed to perform at 24 inches. A really good bowyer can make the difference for you. God Bless, Steve
Apex Predator... A power lam is a short lam that extends just a few inches past the riser fadeouts, which serves to move the bend in the limb out from the riser.