I can't speak for Don, but I can explain how I see the potental for leverage.
The judge can only rule on what is brought before her in court. Much the same as a defense attorney might know that his/her client is guilty...but will still defend them on evidence they can find...
Our judge may have knowledge of something extraordinary contained in those documents. There was a reason they were sealed. All parties are working with other evidence, in the absence of those documents coming to light.
IF, the judge decides to unseal...THEN the debtors might decide to settle, since the evidence contained in those docs might be far more damaging than the cost to settle.