I can imagine there is some reason why this was originally reserved thats probably not valid any more..
It definately is not valid unless someone is living in the stone ages. The network corresponds to the numerically highest Class C network, and is reserved for a potential future classful special purpose (as is 128.0.0.0/16, 191.255.0.0/16, and 192.0.0.0/24). Similar actual special usage is 0.0.0.0/8 and 127.0.0.0/8. So, it relies upon the assumption that there are still pre-cidr systems out there, and that a special-usage /24 would be needed in the future. While I can see some Classful gear still being out there, I doubt any new special-purpose blocks will be needed, and if they are, they will likely just be pulled out from somewhere in the middle.
However seems like a lot of effort to change documents and policies for a single /24 !
I could go either way. I highly doubt we really need to preserve the reserved status, but if it ceases to be reserved, someone really needs to explicitly state that. So far, I've received no response from IANA or APNIC on the subject.
Steve