Looks like its broken - I wasted one perk on this before I ealized it didn't do a damn thing. I've done some tests recently on one of my squadmembers who has this perk across several different skills at different skill levels (shooting, throwing, melee, umarmed), with other squad members at varying distances away. The chance to hit don't seem to have changed a damn.
Man, I really hate it when what looks like a good perk turns out to be a stinker...
Red