Cool tip! I did a search and found more information about it...
http://office.microsoft.com/en-us/assistance/HA012073991033.aspx
Don't be a dummy: Make use of the dummy
L.D., from Florida, sent me a tip about how to insert dummy text. She likes to have some text in her documents and Web pages when she's preparing to design them but doesn't have the content yet. She writes:
"To insert dummy text into your Word document, type =rand (p,s), where p is the number of paragraphs you want and s is the number of sentences per paragraph. Then press Enter, and voilĂ , Word will create the text."
A great one for all the dummies who want to read about the infamous shenanigans of a nimble brown fox and an unsuspecting dozing mutt (or purebred; who can really tell?).