If your sensor is offset in x and/or y then use for calibration doesn't directly require this offset data as it only needs to measure the height of the bed under the probe, but indirectly it needs to know where on the bed it is probing and since the coordinate system refers to nozzle position the offset data is useful. (it will also use the offset to avoid probing outside the bed assuming you've defined your travel limits based on nozzle position correctly).
For compensation/levelling the offset is translated to nozzle position for each probed point, so when the nozzle next passes over that point when printing, it does so at the correct height. Assuming your probe is accurate.
As a maker of probes which have no x or y offsets as they use the nozzle to touch the bed, there are great advantages; no offsets to work out, you can probe anywhere that you can print, they're lighter and less of an obstacle and much more accurate than most offset probing methods. See my signature if your offset probe eventually begins to annoy you, mine did that's why I got into the business of making probes better.