We can peek in the C code for this function to see what's being done there, but my assumption is that you should read the color value before clearing it.
Contrary to _SETALPHA, which attempts to only affect transparency, this one promises to actually clear the color you indicate, which results in 0 being returned (0 red, 0 green, 0 blue, 0 alpha).
It also makes sense to specify the return value as 0-only for 32bit images since 256-images assign one of the indexes to be treated as transparent (in gifs, for instance), in which case it'd make sense to return the "transparent" color.