Yes, the service allows you to swap bitcoin to litecoin anonymously. Once litecoin is withdrawn, it is impossible to link to your original bitcoin transaction.
Traditional exchanges keep order history, ip addresses, and records of deposits/withdrawals. They do not provide anonymity.
Would you do a LTC -> BTC? I legit would use it as I really deslike the many websites that do this kind of "quick-trades" like Changelly and Shapeshift and I get a bunch of LTC from time to time which I prefer to trade for BTC.