This is a hypothetical sequencer (host)... Keep in mind this would be a small project to start with. And the price would reflect that. Think of this along the same lines as the target demographic for Tracktion. Not Pro-tools or Sequoia or even Nuendo. Just an alternative product that would sit in the low end of the price range, but offer something different.
The tracks window:
This is where I have a problem with many sequencers. The interfaces for most of them are unintuative and work against my workflow. I personally have a hard time keeping track of my work as I open up midi window after midi window (which is why I do most of my composition in notation since its all there in one screen.) What I propose is that instead of a traditional tracks window that you can only double click to edit a track, that you'd have, say, 5 tracks on display at once that can be edited right there on the tracks window. Maybe an octaves range, with the ability to change octaves very easily if needed. This would allow you to be able to line up your sequences and make note entry and quick edits. You can scroll down to the other tracks (you aren't limited to just the five,) only five would be displayed at once though.
Also, each track would consist of 8 layers (each layer capable of being sent to a different channel.) Therefor if you work in templates, you could switch a layer on a track and activate a different articulation without having to create a new track or work with folders. Each layer would be displayed as an opaque window over the others so you could see the sequence in each layer, but only edit the one you're in.
Also, from the tracks window, easy midi controller editing/drawing for each of the 5 tracks on display. This allows you to quickly compare dynamics with other parts of your work. In the tracks window, the midi cc window would overlay the sequence so you wouldn't have to worry about having to line it up (I typically find myself having to drag my sequence so that it is right over the top of the midi controller editor in most sequencrs.)
You coud easily expand these tracks to full size piano roll sequences if needed.
No mixer. Instead each track would be capable of having 2 per track FX, 2 Aux Sends (to 2 of the 4 Aux FX busses), and routing to the Master FX. Each track would have the standard options available. All this would be accessable right from the tracks window with no clicks to open windows or anything like that.
Assigning output for each track to a VST would be simple as well. Just load the VST into the VST rack and tell the track to output to it for the right channel.
And keeping with another project, each track could theoretically could be assigned to intelligent instrument definitions loaded by the user for a given list of VSTi's and this could be expanded on by the community and the user. This way, naming your tracks (unless you don't like the defaults) wouldn't have to happen as it'd happen for you.
These definitions would allow instrument ranges to be displayed on the keys of the piano roll (highlighted in red for good ranges, plain white for notes outside the instruments range.)
Keyswitch keys would be labled with what keyswitch they perform. So if there's a keyswitch for this instrument at C#0 that loads a Non-vibrato articulation, it would be labled as such right on the keys of the piano displayed onscreen.
Interested so far? Maybe I do indeed need to make a quick graphical mockup of what I'm thinking of. Its kind of a merge of ideologies and interfaces with parts of what makes some programs better than others. I'm thinking it could be the quickest application for sequencing midi on the market, IF, it ever comes to be.
Anything I've missed? What would you like to see in the end all sequencer? Its just theoretical at this point. How about audio stuff, it would probably only be standard functions? Video support is a given. Of course, I'm probably way off in left field.