Wordle is a toy tool for generating “word clouds” from text that you provide. 

• The clouds give greater prominence to words that appear more frequently in the source text.
• You can tweak your clouds with different
  
  • fonts,
  • layouts, and
  • color schemes.
• The images you create with Wordle are yours to use however you like. You can print them out, or save them to the Wordle gallery to share with your friends.

Is this an aid to 'judging content' of a web site / essay / project / report / etc.?

Will it help with assessment?

I'm sure there are many uses. Try it out at http://wordle.net/.