Brent,
I see no use when assembling the axle.
I made a simple stand from scrapwood in an hours time which would bolt to the four backing plate holes with the left axle end pointing downwards. This was handy, building the axle from the left side up, and when adjusting gaskets for carrier preload, and during final assembly. For safety I also loosely tied the axle to my workbench with a rope.
The use I could see for the KRW stand would be during backing plate and brake assembly. However, unless you do that every day I would never bother getting anything as sophisticated as that. Something much simpler did just fine for me.