Check out the EULAlyzer. More important, check out the critique in the Copyfight comments. There's also big business in doing license analysis and code analysis.
But wanted to flag this tool as an interesting example of using the visual interface to help make the law more accessible and intelligible. That's the goal of many of the projects on the Do Tank. Looks like this isn't an unequivocable success but there's no reason why it couldn't be. The Contract Commons project Brian describes below is an example of trying to do it right.
PS. Another one of my favorite Melbourne pics
PPS. Addendum - republishing with a link to Eulascan
