This effect was generated in Filter Forge, a Photoshop plugin that allows you to create your own filters.
Converts an image to an ASCII character grid based on intensity. Uses 7 levels of intensity mapped to 6 ASCII characters . : = ! # 0 (plus black / space). This would be considered a crude form of the Newskool style of ASCII art.
Thanks to Zephos' Binary Universe
ASCIIart ASCII lowtech newskool printer font text