PS
I'm not sure what documentation you referenced, but the built-in help includes the following:
'Reverse Dec output after meridian flip' - tells PHD2 how to adjust the calibration data after a meridian flip. Some newer mounts track their 'side of pier' state and automatically reverse the direction of the declination motor after a meridian flip. Older mounts do not do this. In either case, PHD2 needs to know if the mount will automatically change its behavior based on side-of-pier. You may have difficulty finding information about how your mount behaves in this respect, so PHD2 provides the Meridian flip calibration tool to determine the correct setting automatically. It's also easy to figure out the setting manually with this quick experiment:
With the checkbox disabled, calibrate on one side of the pier, then move the mount to the other side.
If you are guiding via ASCOM or Indi or are using an 'aux mount' connection, just start guiding.
If you're guiding only via ST-4 and PHD2 has no scope pointing information, first select 'Flip Calibration' under the 'Tools' menu, and then start guiding.
In either case, if the guiding works normally, leave the box un-checked; but
if you see guiding run-away in declination, check the box and repeat the entire procedure, including calibration. You must repeat the procedure, simply checking the box doesn't "fix" anything.
Note: this procedure must be following in its entirety until you determine the correct setting. Changing the 'Reverse Dec' setting only determines what will happen in the future, at the next calibration.