It sounds attractive. Phex has something very similar to this. It might be difficult to do though from what I've heard. Since ip addresses are not necessarily categorised by country (some are.) So that would require updating of the ip indexes every now & again. It could possibly add over-head to the program. Some people might be put-off with the idea it identifies what country they're from.

I've heard there was a LW CVS version that did that for a while. Not sure why it wasn't incorporated in LW.