Simply put , the updater could use a...well...Update.

First of all, a window/fullscreen mode from it is needed. A way of changing your options would be nice too, so you don't have to start up the game and then re-load everything.

And, of course, a really cool looking window. How flexable could that be? I think on macs you can do funky shapes, that'd be cool. Modding would be a must, perhaps un-lockable skins? :D