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I like this feature a lot.
This is a different/additional trick, but I carry two phones--one as my primary and one that is a decoy in case of confiscation/theft that contains a secondary persona (a whole alternate online person with an email, phone number, social network accounts, etc). Won't help when going through security screening systems but for more covert corruption/attacks/situations, it can be useful. Additionally, it allows me to track the location of the secondary phone.
That's pretty smart, with this feature you can add an extra layer within each device or just keep kids away from your wallet or social apps if they swipe up your phone.
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