Interestingly i didn't find the answer for this seemingly trivial question - Cocoas mouse events have z-coordinates - what are they for?
It is described in for the absoluteZ
function:
For the coordinate to be valid, the receiver should represent an event generated by a tablet pointing device (otherwise 0 is returned). The z coordinate does not represent pressure. It registers the depth coordinate returned by some tablet devices with wheels; if the device is something other than these, 0 is returned. This method is valid only for mouse events with a subtype of NSTabletPointEventSubtype and for events of type NSTabletPoint.
I suppose its for (potential) 3D input-devices which have a third axis. That third axis could be anything from a depth information to pressure (from a stylus) etc. It depends on the device
Compatibility with a tablet.
Google is your friend. http://developer.apple.com/mac/library/documentation/Cocoa/Reference/ApplicationKit/Classes/NSEvent_Class/Reference/Reference.html