Well, I can't say that I have much experience with the inductance-measuring feature on newer meters; I certainly don't own one with that feature, but I can sure see how it would come in handy.
Seeing these responses and links, to me, reinforces the idea that measuring inductance is considerably more complex than, say, measuring resistance or Voltage. In my mind, anyway, the meter would have to be generating an AC test signal, measuring some aspect of how the inductor reacts to the frequency it is generating, then translating that into a useful reading on the display! Quite a bit of math going on there, among other things!