1) allow us to be able to set the volume of the sound events
coz sometimes, we may play music and be in a program where we cannot see the msn notifications....at the same time, we may be expecting someone important to come online
if we cant set the volume of the sound events, and its either too soft or loud, we'll have to adjust the volume of all the other applications we are using...which is kind of a hassle...so if we could adjust the volume for the sound events, we only need to change the volume of the sound events to suit us

2) allow us to be able to save our display pic collection...
sometimes our display pic collection gets kinda big and at the same time, we may want to change email addresses...think of the trouble we have to go through to transfer all those display pics to the new account by browsing and readding all the display pics...if only we could save our display pic collection and then import it into our new account
moreover, sometimes we may not be around the usual computer we use for chatting and our display pics will be unavailble. so it would be cool if we could open up a display pic collection save file in that computer and then start using our usual display pics

1) I don't think Plus can change the volume of Messenger's own sounds.

2) Can be done already: there's DP backup tools available.