Hi @klahnakoski,
This is an opaque access token, and is an added layer of security when the token is not meant to be consumed by any API outside of Auth0.
http://community.auth0.com/t/why-is-my-access-token-not-a-jwt/31028
If you are trying to request a jwt for your custom API, then you will need to specify audience.
Hope this helps!
Thanks,
Dan