I’ve tested and realised that if you do it before the opponent wakes up, Bison teleports back a short distance. Is this used to disorient the opponent? To punish throw attempts (if you’re close just before they wake up but use that normal right before they get on their feet to attempt the throw [tech])?
I think its to move Bison out of DP FADC range for his opponent.
Ah, I figured it was that (and the throw tech). If anyone knows specific setups and uses for this move, please share! 
After cr.lp, st.lp, st.lk, cr.mk->lp.pc (some other bnbs that end with lp.pc also work) you can whiff cl.mk and you’ll be safe against 3-frame reversals and normal grabs but some characters will still be able to FADC.
You can mix this up by doing any pc after the lp.pc instead of whiffing cl.mk. If they quickstand the pc will cross them up. I did some tests and the best PC for this situation is lp.pc since it will beat most reversals or make them whiff if you get the timing right.
Or you can whiff cr.hp after the cl.mk if they don’t quickstand and do another lp.pc. If you do the second lp.pc quickly, it’ll crossup (but will get beaten by reversals sometimes), if you do it slightly slower it’ll hit front (always gets beaten by reversals). If they block the crossup you’re pretty much safe since it hits twice.
Also you can use it as a 5 frame frame-trap after cr.lp