I've read that it's quite usable as a spare part itself, in order to make a cheap and reliable time-bomb IED. It has a built-in alarm and it's apparently not too difficult to use the alarm's beeper signal to set off the bomb at an exact time of day. This would otherwise be quite difficult and time-consuming to build out of a box of off-the-shelf electronic components (not to mention a UI for setting the alarm).

The fact that the watch is so ubiquitous means the paramilitaries can write and distribute a standard field manual explaining how to do this, knowing that anyone wanting to build an IED ought to be able to acquire some of the watches on their own.