Notes:
Chisel is another open source tool for optimizing VRML (utf-8) formatted files. It was originally developed by Trapezium. It runs as a stand-alone Java application.
NIST has developed a web version (webChisel) that can be downloaded and run in a browser.
Chisel has a multi-step process that analyzes your file and identifies optimizations that can be performed. From simple things like reducing the precision of numbers to very complex items such as reducing the side of IndexedFaceSets by modifying the geometry.
It is a highly useful tool that solves 80-90% of all performance problems.