I've been using a useful piece of software called "Chinese word extractor." It can be found here: http://www.zhtoolkit.com/apps/Chinese%20Word%20Extractor/
You can copy and paste Chinese text into the program. It will analyze the text using a common Chinese dictionary, and then give a list of all the words & chengyu that are in the text.
You can even create a list of words to ignore. I maintain this list with all of my Skritter words, so after the text is analyzed, it will only show me words I haven't learned yet.
I've been using this software to study short stories, as well as a textbook I'm working on now called Common Chinese Patterns 330. I really suggest you guys try it out - maybe copy and paste a news article into the text and see the words that come out. It's the most useful thing I use to study Chinese, after Skritter of course.