For another device like a smartphone to use any of the Bluetooth "services" which the @boardname@ has, it must first be [paired with the @boardname@](/reference/bluetooth/bluetooth-pairing). Once paired, the other device may connect to the @boardname@ and exchange data relating to many of the @boardname@'s features.
You could use this event handler to display a letter "C" on the @boardname@ LED grid so you know you have a Bluetooth connection. Or you might want to send some data you've been accumulating to your smartphone as soon as it connects to your @boardname@. Maybe you've been using the accelerometer in your @boardname@ to count your steps for example. Using this event handler you could send the accumulated step count to your phone when it establishes a Bluetooth connection.