So I was thinking light cubes would be a bit of an upgrade from the plain/ugly glowstone. Multiple colors for decoration and style. I know casting a different colored light isn't possible, but that'd be in there too Here's a rendition I made of a Light Cube.
See http://forums.bukkit.org/threads/artificial-lighting.10056/ I did a test where maximum lighting (15) is applied to any right-clicked block. The question is how to integrate this into a plugin? An equipped torch & left-click on wool could make it glow maybe?