Switches are in two parts, as you noticed. The second part you listed is the payload pseudo-instruction, that contains all the switch cases. The first part is a packed-switch instruction, which defines the register containing the value to check, and refers to a payload instruction using a label.
For a packed-switch, the case values in the payload pseudo-instruction are sequential, and only the first value is actually given (in this case, 0x7f060395)
For your example specifically, when the packed-switch instruction is executed, it will check the value of the v0 register against the 3 cases in the payload. If the value is 0x7f060395, it will jump to :pswitch_4, if 0x7f060396, it will jump to :pswitch_5, etc.
If the value of the register didn't match any of the cases, then execution will continue with the next instruction after the packed-switch instruction (the one with the register and label, not the payload pseudo-instruction).
The sparse-switch instruction is similar, except that its payload instruction has an explicit value associated with each case, instead of using sequential key values.
You can find all the nitty-gritty details in the dalvik-bytecode document.