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According to a message found on the https://xmr.llcoins.net/ website:

Only XMR is fully supported by this site. Use at your own risk, there is no warranty, etc.

Despite this warning message, in addition to XMR addresses (standard, testnet, truncated and integrated addresses), AEON is supported.

What specific risk is there in using the site to generate standard AEON addresses? Is the cryptography or formatting used to create standard AEON addresses any different than what is used to create standard XMR addresses?

When I create an Aeon address must I always select the Electrum (Aeon Default) Mnemonic Dictionary or can the English (Monero Default), Spanish Portuguese or Japanese Mnemonic Dictionary also be used?

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Looks like that in the past the page offered only English dictionary. It did generate valid keys and addresses but you couldn't import it into Aeon simplewallet because it works only with Electrum mnemonics. The page was then upgraded to support changing the wordlist, and is now compatible with Aeon simplewallet if default options are used (Electrum dictionary).

Note that, in theory, you should be ok whatever dictionary you choose because on the protocol level private keys and address is all that matters. However, when changing the dictionary you could run into trouble just because the current Aeon simplewallet (0.9.6.0) doesn't have the option to restore directly from keys and you'd have to hack your way into restoring the wallet generated by non-conventional means.

See here for some background info on what was the problem when generating wallets with that page and when / how it was fixed.

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