I think it would be cool to have in addition to a media bin a time line with the ability to drop video into it and set loop points and pause points.
I use final cut pro a lot and am very comfortable and fast with a time line. I think a basic time line function with some features that would be good for running a live show would be very powerful.
I'm thinking in the vain of dataton's 'watchout.' I know that watchout is a different type of application for a very different type of show. However, I think there are some very useful tools that could be brought over.
you can download watchout 4.2 and play with it for free. however its newest version is windows only. their 3.4 version was for both windows and mac but they don't offer it as a download anymore.
http://www.dataton.com/#/downloads/
anyways, this was something I was thinking about a few days ago and thought i would throw the idea your way.
-Dustatron