Due to security issues with Apache modules it is recommended to leave the following setting enabled: {{{code}}}
How does it work? Suppose the following scenario:
If php is added to the denied extensions list, a file named foo.php cannot be uploaded. If rar (or any other) extension is added to the allowed extensions list, one can upload a file named foo.rar. The file foo.php.rar has a rar extension so in theory, it can also be uploaded.
Under some circumstances Apache can treat the foo.php.rar file just like any other PHP script and execute it. If {{{config}}} is enabled, each part of the file name after a dot is checked, not only the last part. In this approach uploading foo.php.rar would be denied, because php can be found on the denied extensions list.