Currently, the tool's capabilities are listed on its wiki page.
Basically right now it just warns you against content that might not be correctly tooled, and will fix some of the things for you. An example output of the log can be seen here.
Currently on the to-do list:
- Change walkmesh data under swim triggers so that builders don't need to manually fit helpers.
- Better instance handling.
- Implement autopricing tool and warnings about incorrectly priced items.