So is there any formal explanation on what exactly this does? I assume this is for developers. And what triggers are added to the save?

As discussed on google groups thread here:
groups.google.com/forum/?hl=en&fromgroups=#!topic/joomla-dev-general/WF_KmaN1Cks

and verified with Andrew Eddie via direct email,

com_config is missing triggers that fire when a save is made to configuration
data.

As Andrew proposes: " I'd just propose to trigger an event like
"onConfigurationBeforeSave" and
"onConfigurationAfterSave"."

I see what triggers are added. I guess part of it has to do with my lack of knowledge on exactly what triggers are. I suppose down the road I'll figure out what they are.