The word "involution" finds more use in analysis and algebra, where self-inverses have more interesting (often geometric) properties. The only interesting property I can think of in the context of discrete mathematics would be that if S is a finite set and f:S → S is an involution then the parity of |S| is equal to the parity of the fixed points of f.

That is,

    |S| ≡ |Fix(f)| (mod 2)
where Fix(f) = {x in S : f(x) = x}.