CyanogenMod‘s latest nightly (at least for the Galaxy Nexus maguro) has a new feature!
Take a look at:
http://cm-nightlies.appspot.com/?device=maguro
NAVIGATION BAR CUSTOMIZATION.
Looks so fun… I haven’t decided what I’m going to put on it quite yet! The standard 3 can’t be changed, but can be rearranged. Which leaves you 2 spots to customize.
Now there’s even a new version (I’m on 0519 myself right now). So go grab it and let us know what you’re putting in the navigation bar!