One LabVIEW feature that (if it existed) would make a big difference for VIPM users is the ability to refresh the menus (e.g., the File, Tools, and Help menus) programmatically after installing packages that add menu-launch VIs. Maybe we could do this if LabVIEW added a new VI server method called Application:Refresh Menus.
Note: this would be similar to how we can refresh the palette menus programmatically by invoking the Application:Refresh Palettes method (shown below).
I bring this up, because one feature that I'd love to see added to VIPM (some day) is an easier way to build menu-launch tools into VI Packages, and I'm sure more people would be asking us why their add-on doesn't show up in LabVIEW after it's installed.
Hopefully, we can help NI get this feature onto the LabVIEW roadmap by convincing them that it's worthwhile.
[Update 1: you can vote for this idea on the LabVIEW Idea Exchange - if it gets enough votes, NI will consider implementing the feature in LabVIEW. Also, you can vote for a related feature, to have VIPM prompt to restart LabVIEW after installing menu-launch items, on the VIPM Idea Exchange]
[Update 2: This was implemented in LabVIEW 2013. Thanks to everyone who voted on the idea!]