Yes, I'm procrastinating.
http://www.technologyreview.com/web/23405/page1/
Excerpt:
Now, researchers at the University of Waterloo in Ontario have developed a browser plug-in to help users keep their information private from prying eyes and from social-network providers as well. Urs Hengartner, an assistant professor of computer science, and his colleagues say the plug-in replaces sensitive information in a user's profile and news feed with meaningless text that can only be unscrambled by trusted friends or contacts. Dubbed FaceCloak, the tool assures its users that sensitive data stays private, Hengartner says. "If you have a particular illness, you might want to allow only your friends to see that," he says. "This leaves it up to the user to decide what information to keep away from Facebook."
http://www.technologyreview.com/web/23405/page1/
Excerpt:
Now, researchers at the University of Waterloo in Ontario have developed a browser plug-in to help users keep their information private from prying eyes and from social-network providers as well. Urs Hengartner, an assistant professor of computer science, and his colleagues say the plug-in replaces sensitive information in a user's profile and news feed with meaningless text that can only be unscrambled by trusted friends or contacts. Dubbed FaceCloak, the tool assures its users that sensitive data stays private, Hengartner says. "If you have a particular illness, you might want to allow only your friends to see that," he says. "This leaves it up to the user to decide what information to keep away from Facebook."

