Ok, further clarification on what I am looking for:
The pics you see are lettering already installed on vehicles, so the white background is sheet metal. The blue lettering is 3M 680CR and the drop shadows, whether gray or light blue are part of the blue reflective, only that it appears they are printed on the blue reflective vinyl. The drop shadows are matte finish, which made me think perhaps it was a 7-10 color printer that uses white. I know the shadowing isn't a vinyl laid over or butted up to the blue because it neither has a lip nor separates from the blue reflective vinyl.
I'm kind of answering my own question as I explain what I saw, but wanted some kind of confirmation if available. I believe what I saw is the color printed over the blue reflective as an Epson S80600 could possibly do this. Epson allows this through a RIP like ONYX by printing white first, then the color desired on top of it. I've done this in the past on clear and overlaminate but never on reflective itself.