SkyIndent has been released to the public on Creation Kit Wiki page under the Notepad++ section since Feb 2012, I just now decided to post it here on the Nexus

It is a source code beautifier for Papyrus, see the Image files for results, It will require you to have LUA installed to run the script

Command Line switches
-s[number] Space indent, default is tabular indentation (example: -s4)
-b Backup file, outputs [filename].backup