There are a few negatives associated with the use of technology. For one thing, you can't just take your kids outside and write a story. The environments are more limited than a pen and paper while in school. Another issue is the fact that some students will become too reliant on the technology. For example, many students are terrible spellers, but have just learned to use spell check. A student never has to learn basic rules like spelling and grammar if the computer will check them every time.
There are many positives about using Word Processing. One of the major perks is improving legibility. I, for one, have terrible handwriting, and the use of Word Processing would really help to make sure that everyone is able to read what the child is saying. Word Processing is also cool because there are many templates and other resources available to make many more things. If creating a project, you might not have time to create a ton of charts, but using technology might help you to create them more quickly.