I asked that very question up in the No2Chem novella...er, I mean thread.
The response I got was that it was only there in that ROM to facilitate UC. If you didn't set up the UC files on your SD card, then it did nothing. But I believe that somebody disagreed with that....
I did let it run after loading No2Chem 5048. Phone worked fine after getting another A-key, but there's still lots of stray "Sprint" references in things like the 'connecting' bubble. And all over the registry.....