I thought it's about time to give Chris some more work on the designing front. *Insert evil laughter*
Kidding aside, I would love some kind of shelve feature, (like the Shelfari or Goodreads). In short I think it could work as a check box thing under each listing, under the Recommend it checkbox, with options like "Currently Reading, Want to Read Soon, or Have Read this". Then on the member pages you can see what somebody is reading, has read or wants to read in the future. It would be a handy feature to bookmark webnovels you want to read based on reviews and so on, but don't have currently the time for.
In the far future, I would love this to become a widget so you can show what you are reading on your own blog/webnovel, because Goodreads nor Shelfari support webnovels without ISBN numbers. I realise this will be a tough develepment, but even if this will never work, a simple link on your blog/novel titled, what I'm currently reading online (won't this be good for your goole ranking too?) to your own member page would be handy dandy.