It causes the units in the stack to become fully fortified. Usually the defensive bonus a unit gains when fortified increases by 5% for up to 5 turns (I think I got those numbers right, but I'm not sure). This spell causes the units to fortify and to gain the full bonus instantly.
(Before .31, it provided the Treetop Defense promotion, which granted +2 first strikes but only while the unit is in the forest. Before BtS this promotion would always give the strikes, but would wear off if the unit left a forested tile.)