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The wielder's secondary effect chances of its moves are doubled (including those with 100% effect chances), with the exception of Secret Power. Moves that receive a flinch chance from King's Rock or Razor Fang will receive a 20% flinch chance, up from the usual 10% chance.
Serene Grace is a very, very useful ability. First of all, it allows users of flinching moves, such as Iron Head or Rock Slide, to flinch their opponents often (Iron Head has a 60% chance of causing a flinch with Serene Grace), making them good checks to slower threats that doesn't resist those moves, pairing up very well with paralyzing moves such as Thunder Wave or Body Slam. Furthermore, it allows such Pokemon to make use of Thunder and Body Slam as reliable paralyzing moves while still damaging the opponent, making the use of Substitute in order to block status more difficult, and unable to be stopped by Taunt. It also allows them to paralyze Ground-types with Body Slam, a feat which would be impossible with Thunder Wave. Such Pokemon include Jirachi and Togekiss in OU, while Shaymin-S enjoys an 80% chance to lower the foe's Special Defense with Seed Flare, as well as also having access to Air Slash. All in all, Serene Grace is an awesome defensive and offensive ability that makes good use of moves that already have an high chance of causing their secondary effects.
Found in Dream World