Honestly, the only worthwhile useage is to force elements to have the correct size in the dom. Use this code for example:
<div class="container">
<div>this div is floated left</div>
<div>this div is floated left</div>
</div>
Typically you would have to specify an exact or min height for the .container div. if you were to apply ":after" with some very simple css, any background you applied to the .container would actually show up (in almost every browser) properly, with few to no shims.
.container:after{
content:'.';
height:0;
line-height:0;
display:block;
float:left;
visibility:hidden;
}
Now try that example, applying a background color or image, and you'll see that the .container div always has the appropriate height (which would be the total combined height of the inner contents) even if all the inner html is floated (as is the case in most ul/li css buttons).
I also use an after on every div that I wrap all my content in per html page. This is due to the possibility that all of the content on a given page could be floated, and I want to make sure that my content div always has the correct size/padding with the appropriate background.