Superb plugin. I'm using this to generate, cleanup and organize my tags. Then I'm using Xon's Keyword linking plugin, which generates keyword linking using the tags. Then I'm changing those keywords links to point at my best page for each tag keyword, excellent way to automate internal linking for SEO.
This addon has been an absolute life saver! Essentially collects all of the words used in thread titles, and compiles them into an organized list of the most popular words. This allows me or my mods to get an incredibly useful overview of the most commonly used words, which then can be used to categorize and tag threads more effectively, or come up with new tags to incorporate.