Indeed, this fastfingers simply goes by the (very common) measure of 1 WPM = 5 CPM (mine says "527 keystrokes 105 words per minute"). It's a bit awkward with random words rather than sentences, brainbench's typing speed test is nicer because it's actual texts, with punctuation etc.
Anyway, this doesn't really help programming, unless you're going to write a lot of technical documentation.
I really don't like tests that throw random words at you since a decent bit of my speed comes from the patterns that words typically follow when used in a sentence. The fact that I can't read fast enough to keep more than a word ahead of my typing doesn't really help either. :/
Do you write code completely on the fly like that? I mean, even when I don't make significant plans for a project before coding it I still code in bursts as I pause to mull over my next course of action.
You have to do that for every line of code you write though, it should be second nature once you've been programming long enough. Besides, unless one has to think about every character of every line they write before they write it, a programmer will always be better off than an otherwise equivilant programmer that types slower.