"Second to last valid index" here simply means that we have a column of booleans, and we need to find the index of the previous before the last boolean that is True. Notice that it must happen in a rolling window and not for the entire dataframe.
This is remotely related to "Is there a way to do last_valid_index() in a rolling window?" which answers a similar question but finding the next to last instead of the last is a whole different beast.
For example:
d = {'col': [True, False, True, True, False, True, False]}
df = pd.DataFrame(data=d)
The expected outcome of a "second to last valid index" method for a rolling window of 3 is:
0 NaN
1 NaN
2 0.0
3 2.0
4 2.0
5 3.0
6 3.0
(because while the 5th index is true: index 3 is the second to last valid index)
If you're also drawing a blank see the URL above for a similar answer.