Something that I'd find really useful is a method to set a time limit to my reading session.
I tend to read at lunch time in the park near my office and can get very engrossed. To counter this I set my phone to chime after 50 minutes so that I can get back to my desk within the hour. It'd be great if I could do this on my Kobo by perhaps having it pop-up a user defined reminder after a similarly user-defined interval and/or at a specific time.
I'm not sure how difficult it would be to implement, but the time at the top always seems to be correct when I press the centre of the screen, and the reading stats are aware of the time taken to progress through a book.