It is by and large, a great site. It serves to protect you from hate filled and malware ridden sites, and it seems to do the job. Ratings will however be swayed by the opinions of its users.
My only major problem, is this "only for kids" and "How suitable is the website for children?". Who are they to bloody decide what kids can and can not use or are not suitable for?
A website that you are on right now. MyWot is a finnish community-based rating tool/utility which specializes in categorization of website 'trust' where websites are rated in accordance to their privacy policy, their ad usage, their ethical standpoint and the content that they host. For MyWot itself, I trust MyWOT to the end due to the fact it has saved me from many accidents involving browsing virus-ridden or ethically dubious websites from the get-go of installation of this plugin.
My only gripe is that the moderation of comments (and maybe some of the ratings which contradict the nature; look at tucows or some websites which clearly host malware as an example) on MyWOT could be better and should really remove the rating system for the comments as they pose no use, it should be a 'trust' or 'don't trust' value for comments.
Been using them for years without a problem. Nice having the green, yellow or red circle warn me of the safety or warning of links. Highly recommended.