second degree heart block is impairment of conduction of an impulse in heart excitation; it is subclassified as first degree when conduction time is prolonged, second degree (partial heart b.) when some atrial impulses are not conducted, and third degree (complete heart b.) when no atrial impulses are conducted; the term and its subcategories are often used specifically for atrioventricular block.
http://www.thehorse.com/pdf/factshee...logy/heart.pdf
My horse has second degree heart block but it is of no real significance other than I have to be careful not to give him certain drugs like Trimedazine as this is not suitable for use in horse who have cardiac arythmia. It is classed as a form of cardiac arythmia. When the horse is rested it is not present, but when the horse works or is excitated then he misses a beat. It is quite common. It is worse if it is third degree heart block which is different. I think maybe this is what your vet could have been referring to??