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This tool is used to check your IP address and if you are using shared hosting services, it will display the domains and links of other websites that share your IP address. If you are sharing your IP address with problematic websites, an icon will be displayed to identify the type of risk.
There are certain icons which mean different kinds of bad news for you, so it is better to check them up before you share them. The different types of icons mean that the suspicious site has been reported for containing malicious content, a virus, Adult content, or spam, even if your own website doesn't have any traces of these. Search engines filter out most of these, which implies that sharing such addresses will also have a negative effect on your Page Rank.
There is also no such thing as the good kind of spam, and it does well to remember that you’d rather eat a canned meat sandwich than see such icons. The Reverse IP Domain Checker is a helpful tool to make sure you don't run into any trouble with the IP addresses you share.