my understanding is they are used for adjusting the pinion angle which is the angle of the differential. when you lower a car alot of geometry is put out including pinion angle so adjustable trailing arms are used to correct this; you want the tail shaft and differential to be aligned horizontally in a straight line. personally im running adjustable upper trailing arms and aftermarket non-adjustable bottoms and i think some people on here do the same.
pros: more adjustment for aligning the diff
cons: not sure as i don't know the full ins and outs but someone will!