The website describes itself in the following terms:
Today's kids are born digital -- born into a media-rich, networked world of infinite possibilities. But their digital lifestyle is about more than just cool gadgets; it's about engagement, self-directed learning, creativity, and empowerment. The Digital Generation Project tells their stories so that educators and parents can understand how kids learn, communicate, and socialize in very different ways than any previous generation.
I haven't had the chance to browse through all of the content of the site, but it's bookmarked for further exploration. I see a lot of potential for incorporating some of the content into library educational programs, especially for those who focus on YA or "tweens." Video editing, social networking, digital modeling, and the like can make for interesting (and fun) activities for patrons. Plus, there are good curriculum tie-ins located on the site, ready for educators (and librarians) to use. Not too shabby.
Note: I learned about this website from Henry Jenkins' blog. I highly recommend reading his breakdown of the Digital Generation website - and his blog is fascinating for those interested in digital media, cultural exchange, and gaming. His book, Convergence Culture: Where Old and New Media Collide, is at the top of my "academic" reading list.