Change the control panel to a shell for control panel widgets, allow users to develop and manipulate control panel widgets just like normal widgets. 

One thing I'd like to try if I had the capability would be to bind tilting the chumby to change the music volume without going to the control panel, or listen for voice commands, or monitor a webcam for gestures.

And, when I did go to the control panel, it'd feel like my control panel because it would have all the actions that I want, ordered the way I want. 

While this may sound like a security nightmare, it may actually help pacify the group of people who would like to have more flexibility with their Chumby while keeping normal widgets safe for grandma.  Loading up a new control panel widgets would be an advanced option and come with a disclaimer that anything could happen.  Alternatively, a control panel widget may have to be uploaded with source and be reviewed by a group of developers that either come from Chumby inc, or a group of volunteers from the Chumby community.

Lastly, and I'm not sure how the control panel is currently architected, but having a plugin model for the control panel widgets may reduce the complexity as more features are added.  In short, even if this is too dangerous, with a modular control panel, a third party could write a new shell that is more permissive and offer it to the community.