It'd be nice if it could do all of it. The only problem I might run into is the color tools for coloring the curves. If I can find the Mel script, I'll post it on this thread to have it looked over by some LW people.
I'm pretty sure you can do most of what I see in your video. You can make those item shape controls via the item shape command. I believe RebelHill does this for his rhiggit scripts. I don't think you can change the display length of normals as that's not even something you can do in the preferences dialogue. Keep in mind that LightWave isn't a unified environment so some of your scripts will have to be for Modeler and the rest for Layout.
A lot of your operations are Layout ones so if you do the action manually with LSCommander running you'll see what Layout commands are called to do certain things. That'll tell you what command to call when you make your script.
Yeah, you cant have the modeling and rigging tools together like that, since one happens in modeler and the other in layout. But as for the creation of shapes, or the quick access constraints and rigging tools... its already available here...