The code generated by the tool (and the way we describe Anchor Modeling in our papers) is mono-temporal and it handles value changes in the domain being modeled.
For example, if your domain contains products one can assume that their prices may change over time. These changes are captured by "changing time" in Anchor Modeling. We normally also store what we call "recording time" in metadata, the time that the database recorded the price value. Even if two different times are used the resulting model is not bi-temporal, since "recording time" is not part of the primary key.
This means that erroneous data cannot be stored in such a model. Only correct data, or correct to the best of our knowledge. If errors are found, that data has to be deleted or moved someplace else to make place for the corrections.
For example, if someone mistyped a price as 100 euro in effect between 2001-01-01 and 2001-12-31, when it in fact should have been 10 euro, the old row will be removed and a new one will replace it.
I am working on a bi-temporal extension of Anchor Modeling, in which also "recording time" is part of the primary key. In such a model the erroneous data can be kept alongside the correct one. That enables you to rewind time along two dimensions, either backwards looking at correct information, or backwards looking at exactly what you knew at the time, even if it was wrong.
Going from mono-temporal to bi-temporal results in a level of complexity much higher than that of going from no temporality to mono-temporal. From the research I am doing right now it seems that few (if anyone) has really understood the complexities of bi-temporal modeling.