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Here's a little guide I threw together: Marketo Token Guide.
EDIT: So for email templates, this works when you're editing the <body> section, but it doesn't work when you're editing the <head> of the email template. I'm not sure why this is, and it's slightly frustrating at times. But in the normal content of the email, and especially within the mktEditable sections that will appear in the WYSIWYG editor, tokens are accurately parsed. (Also, JS in email content wouldn't do much, depending on the JS and the email cients you're dealing with.)
Best,Edward Unthank | Founder, Etumos
Yeah, I'd go with "JS will do absolutely nothing for you." No mainstream desktop and web-based email apps will execute JS, and for good reason.