Unlikely, but ambient visual notification is on my wishlist as well.
If Apple does implement it, my guess is a single-color, white LED backlighting the roundrect label on the home button. "Pulse home button" becomes an additional on/off switch for each app's notifications in Notification Center.
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Okay here's my prediction from last year, maybe this time I'll be right:
Translucent Home-Button (maybe out of glass).
Contains multiple color LEDs for notification system. If you get an email your Home-Button 'pulses' green and so on.
Unlikely, but ambient visual notification is on my wishlist as well.
If Apple does implement it, my guess is a single-color, white LED backlighting the roundrect label on the home button. "Pulse home button" becomes an additional on/off switch for each app's notifications in Notification Center.
Apple does have patents for it already: http://www.patentlyapple.com/patently-apple/2011/04/apple-bl...
So it's not entirely out of the question.