Extending IPO Mouse Recording?

Just a quick question…does anyone think it’s possible to extend the IPO Mouse Recording Functionality in Blender?

Right now it’s possible to build up animation in layers using the built-in IPO Mouse Recording feature, but what I am thinking is it would be neat to find to not only control a bone, but also trigger pre-existing actions (probably via a hotkey) and record them along with the mouse movement.

There is a proposal on the Blender Wiki to extend the Recording feature and while that would be ideal it would also require actually coding new features which is beyond my abilities (still, if anyone wanted to do I would love you forever!). I am wondering, is there a way to do something similar using Python?