LaunchBar Commander has a slightly different focus than some other launch bar tools:
It's designed for power users who value efficiency over eye candy - although you can choose some nice appearance skins for the program, if you are looking for a super fancy animated mac-style dock with dancing icons, LaunchBar Commander is not the tool for you (but see the help file for links to other freeware/shareware alternatives you might like).
It's designed to store docking bar configurations in self-contained files - so you can back them up easily, move them to other computers, switch between configurations, etc.
It emphasizes the use of highly configurable Menus rather than just buttons - you can build hierarchical menus of any depth and varying types.
It has a very powerful tree configuration tool which supports copy and paste, drag and drop, easy temporary disabling, multiple configuration files, etc.
Multiple dock support - a single instance of the program can support multiple docks and tray menus.
Robust support for virtual file menus - confgure menu items to give you access into specific folders, with many options.
Drag and drop runtime support - drop files onto buttons to open them with the specific program, or add them to the launch bar.
Smart tree building - extracts icons and descriptions from files and pictures.
Advanced button and menu types - including switchable Tool Buttons, Batch Buttons, Virtual Links, and more coming soon.
Smart icon retrieval - use application icons, standalone .ico files, or even .bmp files.
Special menu building blocks for Start Menu, MyDocuments, etc. More coming soon (control panel, printers).
Works great on removable usb flash type drives - will auto adjust to changing drive letters and requires no installation
Optional use of skins to get the perfect look to match your background wallpaper.
Easily toggle launchbars to tray mode so you can use them as tray menus when you don't want them taking up space on your desktop.
Freeware
v1.131.01 - February 28, 2012 [Feature] You can now use commandline invocation to show a menu under the cursor for a running LBC menu node.
[BugFix] Restoring a hiding/sliding dock from the tray could cause it to reserve desk space when it shouldn't.
[BugFix] You should no longer see the floating dock temporarily while it is starting up before restoring its last position docked to the side of the screen.
[BugFix] When triggering a pop up menu with a hotkey that contained Control key, the folder of the menu was also opened simultaneously; pop up menus also now start with keyboard focus.
[BugFix] Captions were showing temporarily on submenus configured as toolbar buttons, when switching between them.
[BugFix] Docks (typically multiple docks) were forgetting whether they were docked or floating.
[AdvancedFeature] You can now configure a node with submenus to be a "Treat as tool button" menu, which will make one submenu the active button at any given time, with bottom choices to switch.
[MinorFeature] Added additional configuration tab for docks; added button to reset dock/window size/position from configuration.
[BugFix] Automatically checks for if floating docks are off screen or too large, and repositions.
[MinorFeature] Position of configuration tree dialog is now remembered.
[Feature] Now using a dual package (installer and portable zip), with portable zip preconfigured for portable use; installer and executable are now signed.
[BugFix] On large font displays the docks were taking up more space than they should.
[BugFix] Tab Page menus with captions were not updating captions properly when switching tab page menus.
http://www.donationcoder.com/Software/Mouser/LaunchBarCommander/index.html