As the README says, it is a plugin which allows you to prepare a PNG file with the antialiased heading that you specify. If you check (in the main index page of this weblog) the headings are not regular text, but an image. For bloggers that relish nice typesetting, this is an easy way to automate the generation of the headings.
It complements nicely too with Douglas Bowman’s trick to replace text with background images (although it would require some modifications in to the code generation step)
Planned for the next version (due in a few days, before I on vacation), is a system to avoid overwriting the images when you generate them in different templates with different parameters (for example, different colors and font sizes). Just allow me to familiarize a bit more with Subversion (which I installed just a few days ago on my server)
So, if you like it, please leave some comment on my weblog. Better yet, subscribe to it and read it regularly. Why not even link it from yours? (this is my evil plot to increase my valuation at blogshares, nye he he…)