I've found this feature really useful and I think it should be improved as much as possible to be even greater. These are my thoughts:
- Although it has a bit of bugfix, the buddy tags should dock horizontally (when you make a row of contacts), too .
- Make them blink when status, on/offline, name change... Well, let customize a row of events that'd make them blink that could be used for single buddies or be made default for all (like display settings).
- Having two transparency values: one for when the contact is offline and one for when they're online (being able to quickly identify those who are online from those who are not, if you use an average high transparency. This would also allow to 'hide' offline buddies, what would also be interesting.
- Minimize IM windows to the tags instead of to the taskbar (not sure if that's possible, though). Making them blink when a new IM has ben received. (well, just like the minimized window would do)
- Adding default Messenger actions to the context menu.
Well, I think these things would be useful and make it look even better.
But again, just my thoughts