No your thinking of Morrowind Graphics extender. The OBGE of Oblivion is much more friendly and is an OBSE dll plugin, an esp, and a collection of shaders that can be tweaked in-game.
Ok, that simplifies things.
I've not used the launcher stuff at all really. I have a shortcuts to OBMM, CS with OBSE, and Wrye and OBSE launcher on my desktop. I launch all other apps from Wrye Bash. So I don't even use the minimized tray much. Mostly I open this swap then close it and launch from desktop - I guess I find the splash menus of tools too cumbersome.
I usually launch from Bash too. Often I don't need to though, for certain clones like my CS version, I just have it autolaunch TESConstructionSet.exe
When the support is added for alternate game folder locations, then the launch dialog will be more handy, because your desktop shortcuts would be invalid pointing to the dummy clone.
It would be a good idea to add an option to have mTES4 automatically close after launching any tool though.
Personally, I'm juggling my installs so often, mTES4 just stays in my tray all the time.
Which reminds me of another idea to have mTES4 launch at windows startup. Though I'll probably wait for someone to request that feature. My computer rarely gets restarted.
Splash menus of tools?
Thanks for keeping up on this.
No problem, thanks for your help.
Only reason it's been this long since an update (a week? heh) is because v0.5.1b is quite stable now and I wanted to let it stew.

Give it a little time to flush out any more bugs.
And because I've been working on some new features for Bash. You will be happy to know that as of v291 you will be able to backup and restore your bash settings (it's already in the svn version). I still need to do some testing, but it's likely that (if PM provides an installer for v291), Bash will also be able rollback to a previously installed version. This means that for v292 (assuming no problems with the backup and rollback functionality), the bash files and folders can be reorganized with my restructure suggestions and there won't be anymore issues with having to duplicate everything in your Oblivion Mods for all your clones. After that, I'm planning to change the behavior of hidden installers, so they don't actually get moved, just ignored by Bash. Then when you switch clones, you will have all installers available, unless they have been hidden for that particular clone.
Anyway, I digress.
FYI, the goal is to get to version 1.0 (obviously) which will likely actually be v0.7.Xb or v0.8.Xb
Besides what is planned for v0.6, the only other thing planned is support for Morrowind. I've been dodging it so far because it requires specific handling for the TES3 setup instead of TES4, so it will need a fair bit of unique code to handle it.
I'm also considering the ability to add/remove/edit tools from the Launch dialog similar to how the autolaunch settings can be configured. So users don't have to edit the ini files, but that's just candy so we'll see.