It'd be pretty cool if the tower functioned as a way to void steam. Pretty useless in vanilla, but I think it'd be useful with some other mods. Muluna comes to mind, where you have steam-powered furnaces. If you're not actively smelting, then a steam backup can cause issues with regards to wood production.

There's already two flare stack mods available that should be able to vent steam, so at this point I'm not sure if it's worth the effort to add a venting feature to this mod. I'd add it if it was requested by additional people. It's a good idea though.