The challenge is not how to very a "trick". It is used as a partial non-repudiation method.
The idea was the challenge could be extracted from the base64 encoded ASN.1 PKCS#1 bits provided from the 'keygen' element.
The SPKAC is a form of CSR which if the right about of information such as the commonName, emailAddress, countryName, stateOrProvinceName, localityName et al., a signed x509 could generated and provided to the requestor.
This would then be installed in the browser and if the webserver was configured to accept client x509 certificates, it would be used in lieu of a password for authentication.
A recommendation was to use the 'challenge' as a form of non-repudiation in the event someone else was on your keyboard. If the application required it could prompt you for the challenge and compare it to a hashed version it stored upon the initial SPKAC process.
Hope that helps clear it up.