Excellent for adding non-theme specific custom (functions.php) code

Some code that you would normally put in a functions.php file inside your child theme can be added here instead.
This way, it will run no matter which theme is active.

You can also export and import to other sites, and turn specific code snippets on/off depending on your needs.

This is similar to creating your own custom plugins, but much easier.
It also lets you limit any snippet to run only on the front-end, only on the back-end, or both. This and the export/import functionality are the little touches that prompted me to use this plugin rather than uploading code as a custom plugin!

The import/export is well thought out; it lets you choose to replace, ignore, or duplicate imported snippets that have the same name as already existing snippets!
This should be the default on ALL WordPress import functions!!