Legacy heart rate sensors do not use the ANT+ paging systems... as a result, the toggle bit was introduced in order to differentiate between newer HRM's that do use ANT+ pages, and older HRM's that don't.
Older/legacy HRM's only transmit a single data "page", of which the upper 4 bytes are undefined. As a result, their contents are random. In order to use data page numbers, the toggle bit provides a mechanism for indicating the use of page numbers...
i.e. if the toggle bit alternates between 0 and 1 in the pattern set out in the device profile... then the remaining 7 bits may be interpreted as the page number... if the toggle bit does NOT alternate between 0 and 1 at the set pattern... then the data comes from an older HRM and only the lower 4 bytes may be interpreted...