Thanks def!
I actually thought it looked like something for wires, but I thought Victorinox would have put that in the manual as a separate feature, since they mention every small thing as a feature. And now I looked again, and sure enough, there it was. It is a wire scraper/round cutter.
I got the chiseling and scraping part, but I am interested in what people actually use such a small chisel for. Maybe I am missing opportunities to use this great tool!