t.update() does anyone know what it does

I read the timer section and all it states about is "The call to t.update() will take a matter of microseconds to run, unless the appropriate period of time has passed."

but it doesn't really explain what it does, why or why not to use it, someone have an idea?

I have an arduino micro and the loop() stops all by itself, I can see this by toggling a pin while monitoring on an oscope.

Anyone see that behavior?

Well the point of the post was to find out what t.update() actually does, I wasn't ready to get help solving it yet

I also found where it states "Must be called from 'loop'. This will service all the events associated with the timer."

What events is it servicing?