I like it used mostly as a way of comedy, serious fictions should be closed, but an unserious fiction can use ut well.
My all time favourite is Hayate the Combat Butler, most of the series acts as a parody, where the characters pages/scenes, most make allusions to knowing the genre they are in, though it being a parody will often be wrong. Then there is the insulting narrator, only who badmouths the characters and plot, and gets into fights.
Then there are Abridged series, which are shortened parodies of the original, the best Being YuGiOh Abridged, and TeamFourStar's DragonBall Z Abridged.
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Through dream I travel, at lantern's call
To consume the flames of a kingdom's fall