Someone would most likely do this if the SDK would allow for direct graphic rendering to a buffer for visualisation. From what I've read here the SDK can only display different predefined bitmaps and there is an individual bitmap for each position of a knob or each state of a LED.
So right now only a coarse spectrum analyser would be possible... oh wonder, we already got one of those in the BV512.
p.s.: Also you can just use Friture
listening on your stereomix from your sondcard.