Thank you Webmaster, Wombat explained this to me, and I have since checked it out. I have never had need to use this, as I own what I post.
I think there is a big problem when a moderator is using this function, to post in a forum, they moderate. This function is not being used as a tool to hide the identity of people who wish to make posts of a private or sensitive nature. It is being used by a moderator to hide their identity from other posters. This is ethically wrong. Just because they can use this function, does not mean they should use this function.
It is deceitful to use this function, when used by a moderator in this way.