The Rewind menu in the Sugarcane story format only displays previously visited passages that have been given the tag "bookmark".
Fig. 1: Anna Anthropy's "Town" after certain passages were given the 'bookmark' tag.
Passages in the menu are displayed as a truncated snippet of their text, in ascending order in which you visited (earliest at the top, latest at the bottom). As you can see, since I visited the plaza twice already, it appears twice in the list. (Also, if you're currently at a "bookmark" passage, it will appear at the bottom, letting you redundantly "rewind" to the present.)
Of course, since the player can already step back through their entire game history using the browser's "back" button, the utility of the Rewind menu is somewhat questionable. And, of course, games that use the <<display>> macro heavily (such as Town itself) will not benefit well from it (unless, perhaps, you use <<addtag>> in the displayed passage to add the bookmark tag to everything that displays it???).
Bug: a bug in the current version of Sugarcane means that the Rewind menu will stop working if one of the bookmarked passages has less than 7 words in it. Just so you know.