calibration - Do I have to calibrate my battery after a reinstall?

When I installed Cyanogen Mod 7, I 'accidently' clicked 'Wipe Battery Status' even though my battery wasn't fully charged.

Now I have no idea what this exactly does (even more reason I shouldn't have clicked it), but I'm wondering whether the phone has anyway of knowing when or if the battery's full.

So should I calibrate my battery and if so, how would I have to do this?