If you use the free version then the file will be "Words Free x.xx.ipa". If you use the iPad version then the file will be "Words HD x.xx.ipa".
Right/Control click on the file and Open With… Archive Utility.app.
This will create a folder named "Words 4.00".
Navigate inside "Words 4.00" to the Payload folder and go to "WordsWithFriendsPaid.app".
Right/Control click on "WordsWithFriendsPaid.app" and Show Package Contents.
Look for the file "enable1.txt", copy it to your Desktop and rename it "Words 4.00 Dictionary.txt".
Open the file in your favorite text editor or word processor, I suggest either BBEdit or TextWrangler (both available on the MacAppStore, the latter free). TextEdit on the Mac will also work fine.
If you use Windows or a synced Android phone, I assume that the procedure is somewhat similar. I assume that an UnZip utility will unarchive a .ipa file and you can use WordPad, Word, Excel, or your favorite text editor to open "enable1.txt".
NotePad under XP will not see the line breaks between words correctly in "enable1.txt" and will import everything in a single line. Microsoft Excel will cut off the list at "gypsum", if saving to a non-.xlsx format.
Voila, you can now see the playable words IN YOUR VERSION OF THE SOFTWARE.