
No they are exactly the same thing, they all have to be Licensed by the KC. Exemption shows are exempt from most of the KC rules, and dogs don not need to be KC registered to take part in the pedigree or other classes.
The purpose of the show is to raise money for a charity or good cause. the KC have become strict about having confirmation from the benefiting society that they are happy for the show to be run for their benefit, and a rep of the organisation is supposed to attend and confirmation of receipt of funds I think is also required. Also all paperwork has to be kept for a certain time, and if a complaint should ensue, is required to be produced.
I think that there were suspicions as to what the profit went on in the past, and whether it didn't line the organisers pockets, as some run several of these shows on a regular basis!
There are shows run without KC license, usually advertised as Fun shows!