Less useful than Ubuntu Satanic Edition imo. It allows you to feel 'special', I guess. Why not use that in combination with TOR? Then users could feel really special; Satanic Anonymous! (or vice versa).
Aside from the fact that it contains TOR, I see no relation to "privacy"... It seems to me that it's actually a collection of hacking tools. Nothing inherently wrong in that, but nothing new either.
Sourceforge.net have decided to remove Anonymous-OS (at least for now); 'We looked at the project, and decided that although the name of the project was misleading (we see no evidence that it is connected with Anonymous) it appeared, on initial glance, to be a security-related operating system, with, perhaps, an attack-oriented emphasis. We have, in the past, taken a consistent stance on “controversial” projects - that is, we don’t pass judgement based on what’s possible with a product, but rather consider it to be amoral - neither good nor bad - until someone chooses to take action with it. ... However, as the day progressed, various security experts have had a chance to take a look at what’s really in this distribution, and verify that it is indeed a security risk, and not merely a distribution of security-related utilities, as the project page implies. ... Furthermore, by taking an intentionally misleading name, this project has attempted to capitalize on the press surrounding a well-known movement in order to push downloads of a project that is less than a week old. We have therefore decided to take this download offline and suspend this project until we have more information that might lead us to think differently. We’ll be in touch with the project admin, and let you know if and when we find out anything to contrary, but for now, that’s what we’re doing.' link