| It's most likely what everyone else said. A way to adjust the angle the neck sits on the body. Instead of shimming the neck, you adjust the angle with that allen key. Probably the way to do it would be like the Fender, Music Man, G&L, Peavey, and Danelectro ones worked. Detune the string so they're about half as tight as normal. Loosen the two screws closest to the bridge all the way, and loosen the other two wood screw holding the neck in about half-way. Turn the allen screw. Clockwise (righty tighty) if the neck needs to come up and have a flatter angle. Counterclockwise if the neck needs to have a more steep angle. Then tighten all four neck bolts (well, actually they're wood screws, not bolts), retune and check it.
Of course, if it's already set up well, OR IF IT CAN be set up well without touching that screw, then don't mess with it.
jte
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JTE Spelling, grammar, and punctuation do matter, despite the threats of death by grease fire!
"Without space, music is just noise piling up on itself." TRK
Lakland Owners' Club # 248
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