I used to use this quite often in the darkroom for localized hilight boosting. You can also use it as a bath to affect all hilights. For local work, you need to be slow with it and build the effect. I would typically apply a little bit of solution to the desired area, wait a few seconds and then apply fixer with a sponge to arrest the bleaching. The effect can go too far really fast, if you see the look you want as your applying it, it's going to continue on too far and you'll have to start over with a new print (ugh).
Safety discussion here: (there was a url link here which no longer exists)
HTH,
CB