I think that's the original reason for it -- Volvo spin balances the tire/wheels *on-the-car* at the factory, and being mounted at the time, it also includes the balance of the heavy brake rotor during the process. Thus, the pin ensures that the wheel is mounted the same way if it's ever demounted.
The other reason that you're trying to remember, perhaps, is to fasten the rotor to the hub -- the same purpose as the ordinary 10mm bolt in the other cars.
However, when do you take off a wheel? When you rotate your tires, or to put on a set of snow tires. At these times, assuming you're not spin-balancing the wheel/tire on-the-car, the pin's position-keeping role is utterly useless.
I always insist on spin-balancing, in fact I pay extra money for the Hunter Road Force system which balances the tires with a roller pressing against the tread of the tire to take into consideration tire distortion (and I get a printout of the results). However, it's been decades since I've since any shop that can do a spin-balancing of any kind while the tire is mounted on the car -- which makes the function of the pin a moot issue.
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