According to two different sources, the M546 105mm "FRAG" is in real life an "APERS-T" round filled with 8 thousand flechettes.
However, in game it SEEMS to behave identical to the M1 105mm HE shell, detonating upon impact.
Notice that I said that it SEEMS to behave identical to the HE shell. I said that in case I am unable to see that this shell actually fire flechettes, but the "original projectile" still continues to travel until the moment that it impacts the ground and detonates. However this would still be a minor bug.