Its nice to know before you waste time using it. You can try to use it in your own spreadsheet program. I have a copy of te Competition WOD FAQ from the ASK clan here updated as of April 99. I don't know if there is a simpler trick to decoding these binary key things, but the spreadsheet seems to work. I pulled the info below from about 20 servers, it will give you an idea of what features are usually being banned.
Most servers like to ban the homing rockets, cataclysm device, and telefrag.
If you are wondering what to ban, I strongly suggest the cataclysm, as people will abuse it and ruin the game for everyone. They can constantly respawn and pick up the grenade launcher and immediately fire a cat killing themselves and anyone close by. I've seen people do it for 15 minutes straight. .