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Looks like the watchmaker may use it for handling the bolts as they place them in the case, but I suppose strictly speaking they could do without them.
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They use a screwdriver to hold them as they do up the other side from the back. They're white gold and soft. If you were to just use the steel case as a spanner to hold them when doing them up, they'd round off pretty quickly.
Olly398
Sanddancer
@Ordinata
So the slot on the face is purely aesthetic.