Update Time from first selected file time/ If you know what you are doing, this function is great to sort/move entire groups of files that must be loaded last, keeping the relative loading order (just ctrl+click or shift+click the files to organize). It is meant to be used with files displayed in loading order. It cannot be undone (at least, not in a single step). This command will update the time of selected files, starting from current system time, keeping the same plugin order.
For anybody interested in including TESTools-like (based on redating selected mods relative to current system time/first selected mod timestamp) mod reordering in Mash, you can find a example of changes to the masher.py file to add (right click option/description):