Fusion of Armstrong's acid in NaOH gives the disodium salt of 1,5-dihydroxynaphthalene, which can be acidified to give the diol. The intermediate in this hydrolysis, 1-hydroxynaphthalene-5-sulfonic acid, is also useful.  Nitration gives nitrodisulfonic acids, which are precursors to amino derivatives.
The disodium salt is sometimes used as a divalent counterion for forming salts of basic drug compounds, as an alternative to the related mesylate or tosylate salts. When used in this way such a salt is called a naphthalenedisulfonate salt, as seen with the most common salt form of the stimulant drug CFT.  The disodium salt is also used as an electrolyte in certain kinds of chromatography.