Very nice! I modified it once I downloaded it to use farenheit instead of celsius for the temperature (hooray America!) Do you think you could include an option for this? Also, I think something like acmonitor would be cool incorporated into this. acmonitor lets you have different backlight levels (and baclight settings) for plugged in and running on batteries. I'd like to see cpu governor added to that list, so I could have performance when plugged in, and ondemand for battery usage. Maybe go another step and change it to powersave when the battery gets low.
Also, I've stumbled upoon a bug: this applet doesn't update when other applications change the cpu governor. I went into liqbase and changed it to performance, but the applet still shows it as ondemand.