The compression release closes off the intake port to the motor, which forces more air/fuel mix to the other cylinder. In cold weather, this might help keep the fuel from condensing out, and actually getting to the cylinder. The compression release also opens up the cylinder to the atmosphere, making it easier to crank over the motor.
I have owned and run A, K, S, and P motors with rotary valves, and never needed to use them. Choke the motor, bounce it a couple of times, open the choke, and start.
Tom