Let me introduce you the application of Phalcon API reference http://phalcon.agent-j.ru/
This is not a release yet, consider it as a preview, so I will gladly accept your comments.
This application was developed using the Phalcon. Backend part is console app which parse the Phalcon C-sources to generate API docs.
Restrictions: - generator uses PHP ReflectionClass, so its possible to generate API only for currently installed Phalcon version - there are no default values for methods arguments - there are no properties descriptions 'cause they are absent in the sources
Roadmap: - host the sources on GitHub - improve the parser to get rid of ReflectionClass - some more improve parser to get default values for methods arguments - multilingual support - UPD: search for methods and properties