architecture refers to the architecture this entry is for. The argument should be an architecture identifier, using the architecture vocabulary defined by the EFI specification (i.e. IA32, x64, IA64, ARM, AA64, …). If specified and it does not match the local system architecture this entry should be hidden. The comparison should be done case-insensitively.
This seems to preclude a fully-compliant implementation for an architecture that is not supported by UEFI, such as PowerPC. It appears that existing non-UEFI implementations (petitboot and Fedora's patched GRUB) simply don't implement support for this field.
I think the ideal solution would be to just include a table of architectures in the specification itself, or maybe to defer to another naming source.