Thanks to The Joker and KryptoNyte, I checked out:
Desktop Visualizer -- an app which allows you to configure custom icons for your home screen.
On the NookColor you can usually easily add applications and widgets to your homescreen, but adding 'shortcuts' and 'folders' usually doesn't work.
A 'shortcut' can just be a straight link to an application, but it can also be a customized frontend to the application. E.g. instead of just opening the Google Navigation program it can open the app preconfigured with a specific address. Or instead of just opening GMail, it will open Gmail to a specific label. Or in the the case of the ASTRO file manager, instead of opening it to the folder you were at the last time you opened it, it will open it to a specific folder you specify when you create the desktop shortcut. Dolphin browser includes shortcuts that can open specific bookmarks. Want a link direct to your favorite website on your homescreen? Or how about a favorite music playlist? It's all here.
When you download an app, that app can included preset shortcuts that will work with your launcher. Or should. Somehow the picker in the NC isn't working right. But Desktop visualizer gives you access to them.
Check it out. Launch Desktop visualizer and instead of 'Launch Application', pick 'Other'. See what custom shortcuts your apps have available.
If you use QuickBoot, they even have links direct to Reboot. Careful though -- it will put an icon on your desktop that if you touch it will cause a reboot without confirmation.