"Hello" to you too, Chazz.
Maybe it's just me but... I don't get it. I love the map tool, token tool, all that... But the initiative tool escapes me. I really don't see how having this around is actually easier than simply keeping it written down in a text file. You already have the NPC's and players' stats laid out before you, and you have to do calculations and all that anyway... Why have to just type it in all over again, just to have a check mark next whose turn it currently is?
I'll bet you don't track spellcasting correctly right now, do you? If you did, you'd see some benefit.
For example, say Alfred the wizard casts Haste at initiative 20. Bob the fighter moves to attack a bad guy. On the next round, Alfred delays until his initiative is after
Bob. Does that mean Bob gets an extra round of Haste? (You may have to think hard to understand why.)
InitTool is good at tracking that kind of thing. And it's much more flexible in the gaming systems that it can support. In MapTool the init panel gets close but it only tracks tokens so to track spell durations requires that a token be created and added to the init. But that's kind of an ugly solution; InitTool is a bit cleaner.
Be aware that InitTool has had some of its functionality added to MapTool's init panel and that means the standalone tool probably isn't as necessary for groups using MapTool.