I used it on my wristwatch project for awhile, before I had the ability to set the time.
The FPGA code set the time to 8PM (the earliest time I can sneak into my workshop during the workweek) when this bit was set, then cleared it.
All I had to do was remove the battery and short-out the supply (the DS3231 has internal parasitic capacitance that retains state for more than a few seconds). Then the time was accurately set.
In case you have not already found out, there is a good reason why Maxim calls this device "Extremely Accurate".
After more than 2 years, mine is still within about 10 seconds of the correct time. That's about 0.1PPM.