WPS-Wizard version 0.5.3 beta 1 has been released (9/2/2007); the latest version can be found on NetLabs. This is a WPS addon which gives you freely configurable context menus for all filesystem objects. You may have different extended menus for different classes. Also available is a PNG icon addon, which has been updated (9/2/2007) to version 1.1 RC3. This adds theming classes to the WPS so PNG image files may be used as icons. Cairo is used for rendering, so alpha-blending can be used.
Source: OS/2 Warp News and Rumors.