pulse voltage drops trying to connect 2 devices
Active low means that the function of that pin is enabled when the signal on it drops to 0V of below the Vi(l) level specified in the data sheet. For instance, if a chip as a #EN or nEN line, this means that the device will be enabled when the signal on the #EN or nEN line drops low.

As for the voltage drop, you need to examine the data sheet for the pin impedance and whether it is classifies as Open collector/Drain. Without knowing which devices you are using, it is difficult to comment further. If the input side of your second device has some impedance, then it will appear in parrallel with R2. A better way to achieve level convertion is to use a level shifter or a simple low VGs fet arrangement

Any FET may be used provided it satisfies the shift voltage and VGS(on) requirements.