Computer HAZOP (CHAZOP)

Fellow automation professionals - does anybody have any experience in the application of CHAZOP as a tool for systematically evaluating process application software using a guideword approach to rigourously walk through the specification to identify if normal or abnormal functionality can create a process hazard.
You may know this by another name, however the UK Health & Safety Executive commissioned a report "Guidance on HAZOP Procedures for Computer-Controlled Plants" to establish a formal process to do this.
I'd like to know if anybody has seen or can see the value in this as a tool as myself and my colleagues have a technique ready to go but we are not entirely sure of the potential market.
The HAZOP study should
The HAZOP study should preferably be carried out as early in the design phase as possible - to have influence on the design. On the other hand, to carry out a HAZOP we need a rather complete design. As a compromise, the HAZOP is usually carried out as a final check when the detailed design has been completed. I downloaded a couple of reviews on HAZOP from Mp3 Search Engine http://www.mp3hunting.com . Experts say almost the same...