In a similar vein, here's a Python script which someone wrote that does a word analysis on Chinese texts:

http://www.chinese-forums.com/index.php?/topic/34994-new-too...

It provides a breakdown of the words in the text, and even does lookups to supply definitions and frequency in an external corpus, so you know how common that word is in a broad range of texts. You can then take the output and paste it into a spreadsheet program, and from there import it into an SRS flashcard system like Anki for long-term memorization. Kind of a DIY solution but it's pretty handy for serious learners of Chinese.

It's also available as a web frontend here, under the "Wordlist" link:

http://www.zhtoolkit.com/posts/tools/

With full end-to-end integration with Anki and a mobile e-reader, it would be very powerful indeed.

(I should also mention that the mobile app Pleco has a reader component that allows directly adding words from an ebook into its flashcard system, along with high-quality definitions. Pleco's probably the fullest Chinese-learning suite available on smartphones.)

edit: For mouseover definitions of Chinese and Japanese words in your browser, there's the extremely useful Perapera-kun Firefox addon. It allows you to add words to a wordlist which you can then export as a text file along with definitions. Tada, more cards for your Anki deck.