I use a rehalogenating bleach (ferri+bromide) for local print bleaching, mostly to bring out highlights. In the past I have had a print or two that benefited from an overall light bleaching to raise high values proportionally more than darker areas (think snow scenes). I have also used overall bleaching as a last resort to save some prints made on fogged paper. It worked extremely well.
As for the discoloration that Gerald mentions: I find that if I bleach judiciously and lightly (i.e., using a weaker rather than stronger dilution of bleach), I can prevent or ameliorate any discoloration. I am very careful when toning prints that I have bleached, since bleached areas tend to tone differently than the rest of the print.
I also use my stock solutions of potassium ferricyanide and potassium bromide to make up bleach solutions for SLIMTs, primarily for negative contrast reduction pre-development and to make up stronger solutions for bleach/redevelop of negatives after development, primarily for increasing contrast. SLIMTs are relatively straightforward and just need some testing to dial in. Bleach redevelopment of negatives to completion for contrast increase is easy-peasy.
Best,
Doremus