It's nothing wrong with that, it's just not as easy as you think. Consider that what you see in the Add Reference dialog needs to be filtered based on what your project is targeting, as Visual Studio supports multi targeting, now put that in a context when
a user has it's own subset (say a Mono profile) that needs it's own filtering, also consider that user subsets can be chained together (like 3.5 is to 3.0 and 2.0, that's why you see 2.0 - 3.5 assemblies when you targeting 3.5), and the whole problem gets
way more complicated. It's achievable of course, but not for Dev10 (IMHO).