The nice thing about the program is that it's only around 100kb, so it's very light. You also have the option to either install, or just download the executable. However, FH Update checker is not portable, because it requires the .NET framework. If you don't know what that is, it's basically something made by Microsoft that many programs require to run. It's a fairly large install, as well, being around 100mb, I believe. But the point is, you can't just take FH Update Checker to any computer you want, because some people don't have the .NET framework, and don't want to install it just for a 100kb update checker.
But if you already have .NET, Update Checker is great. Basically, you run it, and it starts collecting data. It's very quick, which is nice. The thing that is different is that it displays the results in your default browser. It will show whatever programs that have available updates, the version that you have installed, and the version that is available. It also lists a link to every update. Straightforward.
There's also a few settings. You can set a custom browser for it to use, you can make it show all programs (not just the ones that have updates), you can make it ignore betas, or you can even make it show the installation path. You can also add custom locations (since it normally only searches the default location), set proxy settings, and add it to system startup.
The only thing that I can see that is an issue is reliablity. For on, it only checks for programs that are on FileHippo. Other update checkers (like SUMo) get literally everything, because they are always adding new entries to their master database, based on what they find people have installed. But with FileHippo, I've heard that it has problems getting everything. Also, I've experience that it will sometimes mess up and suggest an older version. But it's still a really useful tool, and I suggest you check it out, if you don't want to keep wondering if your programs are out of date.
Oh, one more thing, the program is beta. I don't know why, but it apparently is. Just thought I'd throw it out there.