Just a thought...
When I connect into my joomla administrator panel and load the Joomlawatch component, I'd love it if it would take my existing IP address (which it can get from my session) and automatically hide my stat from the display.
Example: I'm on DHCP, so my IP address changes every time I connect to the 'net. I go to my web site, and surf around. I go into Joomlawatch in administrator, and it automatically cross-references my current IP address with any IP address that it is currently watching on the front-end and hides it.
It would also be very nice if, instead of IP address, user names were used for logged-in users. This would also work for the above, because I'd see my users logged in as me. But it would help to know what each user is doing by username, not by IP address.
Great component!! Thanks!