I've read that 154CM was originally developed for turbine blades needing high corrosion-resistance, strength, and especially resistance to losing thier hardness at high operating temperatures, in the mid-late 60's. I've also read it was an upgrade or competitor to 440C. Please be advised, this is only hearsay, I have no documentation!
In any case, it's a fascinating question, and I hope someone with better info will chime in. I'm curious about the histories of this and many other alloys.