My Take
Students will be able to reflect upon their own learning to recognize their successes and needs. Teachers will be able to pin point a specific need from either their whole student body or areas that specific students are having difficulty with. The one area I didn't like about this tool is that it is timed. This may encourage students to answer quickly rather than taking the time to gather their thoughts or ideas before answering the question. Beware, it is also competitively driven. Students may fixate more on the scores rather than the content being taught.
How I Use It
I would use this as a way to assess my students understanding after a lesson or small group instruction. It is a great engaging tool to find out what your students learned, what misconceptions there were and what areas you may need to cover again. This tool gives immediate feedback, helping teachers construct small group instruction on a specific need. I think this is also a great way to communicate with parents. This website allows you to print out data on students citing their individual needs.