Found via this video on securitytube.net:

From the explanation at the website,

WEPAWET stands for Web Engine to Protect from and Analyze Widespread and Emerging Threats. It is a collection of tools that use static and dynamic techniques to analyze web content to identify possible malicious behavior. It currently supports analyzing Adobe Flash, JavaScript and PDF files.

Therefore, this tool is very useful to quickly analyze compromised websites that are performing drive-by download attacks.

This service is hosted and maintained by  the University of California, Santa Barbara.

More information on the support page