Well, by a literal reading, it seems, it wouldn't provide "Cold Resistance 10, Fire Resistance 10, Sonic Resistance 10, etc..."
It provides "any attack that deals acid, cold, electricity, fire, or sonic damage" resistance 10.
Which means that if the attack deals, say, 5 cold, 5 acid, 5 sonic, only 10 of that damage would be resisted against, and 5 would get through.
More interestingly, it seems that a litteral reading of this says that if a sword deals 1d6 +1 fire, that not only is the fire resisted against, but the entire attack is, meaning that the slashing damage is resisted too...
Note that I in no way shape or form condone actually ruling it this way.