I was thinking about writing pretty much the same module, then found yours, which has saved me a lot of work, so many thanks for your work on this.
One thing that I think would make this module even more useful is if it were possible to map a node reference field on the taxonomy term to the id of the node being created. This would (I think) make for much faster table lookups when searching for linked nodes. E.g. I have a Listing type, and an Event type. The Event type has a performers field which refers to a number of performers. If I wanted to display a view of the performers with images and a short description at the end of the Event page, this would currently (I think) involve a search in the database, but with the extra field mapping it would be a direct lookup between the two fields.
Another useful side effect is that you could have multiple aliases of the same Listing - e.g. "The Balkanics" as well as "The Balkanic Band".
Please correct me if I'm wrong about how the table lookups work, but I think this would be a useful feature. I am up for helping code this feature if that would be useful, though I'm still fairly new to PHP.