Projected items on Roblox are limiteds that have been intentionally sold at high prices to artificially increase their RAP (Recent Average Price). This makes the items appear more valuable than they really are to traders who don't understand projections.
Item projections typically don't last very long because they usually sell far below their projected RAP. This lowers the RAP with every copy sold, and it's common for many copies of a projected item to sell soon after the projection.
It's usually best to avoid trading for these items unless you feel you are experienced enough to handle them in a way that is favorable to you.