The text editor for the service is basic but adequate (including the ability to embed images), and you can hand-tweak HTML code if you're so inclined. You can give your page a fixed name if you like; if not, it gets a URL-shortening-style address.
This application's far from the only way you could achieve this kind of goal (Google Docs springs immediately to mind), but for a speedy way of placing some text at a fixed address, it's pretty handy. There's no registration required, which also means that there's no obvious way of identifying a document's originator other than cookies or IP address checking. Hence while there's an option to edit your existing notes, it's better thought of as a quick publishing solution than a collaboration system.