Currently, the Highlight feature is just the Clip feature without a length limit, which can lead to some lackluster highlights - especially in regards to highlights featuring multiple segments of a stream or even an entire stream. That said, I'd like to see some basic features added such as:

1.) The ability to add transitions / fades between segments.

2.) The ability to add effects such as fast-forwarding or slowmotion to portions of the highlight.

3.) The ability to manually mute audio from portions of the highlight in order to censor parts of the stream without having to cut it out entirely (such as a friend in a multiplayer game accidentally cursing during a Family Friendly stream)