With the release of the 5.00.00 version comes a brand new feature: the ability to include actual words in the passwords you generate. For the non-formatted passwords, just check the 'Use Words' checkbox. For formatted passwords, simply insert a carat ('^') into the format box where you want the word to appear! Let me know if you encounter any issues with this, and I will fix them as soon as I can! I hope that this project has been of some help! Please note the the CLI does not yet include this feature.
While this is the first SourceForge release of this project, it is not a new piece of software. This 'new' release is actually version 3.0.0 of the generator GUI and version 2.5.7 of the generator itself. It has a number of pre-definded sets of characters to help with the generation of passwords. It also allows you to specify characters that you want to include in addition to or that you want to have excluded from a pre-defined set and you can also specify your own set of characters. Give it a try and let me know what other features I can add to it -- I'm at a loss of ideas.