I'm just hypothesizing there, but I think it's like "War power" on props (and jets)
you have maximum rated thrust without time limitations (100%). but you can spool up the engine to a higher thrust with a time limit. for example, if I remember correctly (working the memory of something I read 15 years ago), a J52 engine (A4 and A6) could be operated at 102% for 30 seconds and up to 106% momentary
lets say that SSMEs are rated for 10 minutes @ 104%, but because SSMEs only burn for about 8.5 minutes you have no problems operating at 104% for the entire duration of the powered flight.
I guess they can be spooled up even higher with a tighter time restrictions, say 110% for 30 seconds.. but that is something that you will only know for a fact after digging deep into the SSME tech manual.