Have you looked at instrument certification requirements? This could be because most altimeters can't be set beyond 31".....
heh heh I'm leaving my retarded-ness up here so I don't look like I'm changing my tune, but I looked it up and got this:
http://www.aviationchatter.com/2009/01/under-pressure-far-part-91144/
"In English, if the altimeter is near 31.00, the normal rules for setting the altimeter might not apply. It is the responsibility of the pilot in command to check the NOTAMs and comply with the special rules implemented for this weather condition. In fact, you can not legally fly unless you have complied with the NOTAM."
If there's a NOTAM about it, you comply with it.... I'm going to assume that the NOTAM probably tells you to set a standard altimeter setting (29.92)