currently (in 0.9), the VJ setup in LiVES is basically a list of clips. during performance, it can be browsed (prev/next), and the mnemonics can be used to store shortcuts to certain clips in f-keys. this is ok.
first thing i was missing is the ability to work on the order of the clips in the set, and probably other such basic management features (although can't name a specific one right now). this should be pretty trivial to implement.
i suspect, though, that there will be an ever-growing demand for more complex data structures and their manipulations (for example having many kinds of relations / structure / metadata, facilitating fluent access to the right stuff when improvising in a performance).
high level programming languages are well suitable for such tasks, i.e. non-cpu intensive / non-realtime manipulations of complex data structures. thus i wonder if e.g. having a PythonLives would be a good way to achieve great setup management.