K_IGNORE trick (periodic execution)

There is trick for periodic execution, involving K_IGNORE and feedkeys
[1].
In the lastest vim 7.2.141, I cannot make it to work anymore.
Timer() is executed only once, as seen from 'echo strftime' printout.
Can anybody confirm this ? Am I missing some global setting ?
'updatetime' is set to 200.

autocmd CursorHold * call Timer()
function! Timer()
let K_IGNORE = "\x80\xFD\x35" " internal key code that is ignored
call feedkeys(K_IGNORE)
echo strftime("%c") " this for debugging
endfunction

[1] http://vim.wikia.com/wiki/Timer_to_execute_commands_periodically

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