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It is useful for making breakcore/glitch music. It is a real common command in trackers. If you have a snare sound and want it to sound like a snare roll you retrigger it a few times on that same pattern line with the command. It's a lot easier than changing the tempo of your song...
I see this is an old thread, but I echo the sentiment!
Not at the top of my wishlist, like FDS support, but retrigger is extremely helpful for doing things like rolls without creating volume envelopes or spacing out the beats more to give yourself more rows to work with. Makes it easy as pie to cram in 32nd notes on top of 16th notes.