It means one year from the expiration date of your green card. Your "new, extended" expiry date is July 29, 2018. You will probably need an I-551 stamp after that, though, since the California office is currently taking about 16-17 months to process I-751s.
Sometime around the end of June or beginning of July this year, you will have to make an Infopass appointment to get the stamp in your passport, but for now, you're good.
Any situation where you need to show your green card, you'll have your expired green card and the NOA (notice of action) letter that shows you have a year's extension.
Hi Guys,
My fiance's visa got approved!!! the packet arrived in the mail october 7th. What a relief. the receipts and my joint sponsors might have been the factor here! also i just got out of school maybe. Im just so grateful now. I really cannot wait to be with her!