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Ok, this is a bit silly perhaps, but here's an idea for you!
A function that desaturates (removes colours) and provides colour tinting for application icons and/or system tray icons. Nice if you like icons but don't like bright colours to interfere with your otherwise minimalstic colour scheme. (Manually changing the appearance of every single icon isn't an option for obvious reasons). Oh, and smooth resizing of system tray icons would be practical as well ;-)
Maybe this would be too much work, or make the panel too bloated - I really wouldn't know. But if not, think about it ;-)