I love fences. I use it on every PC I own. It's the first thing to get installed after drivers on any new install.
Here are four things that would definitely make Fences 3 a hit.
1. Sync. Sync your fences across any PC you use. Sync all fences or just the ones you choose.
2. Fence-On-Top. Click a button on a fence's drop-down bar (Rename, View, Sort, Organize) that will make it appear on top of all other open windows. Click again to put it back in its place.
3. Fence Roll-Up. Allow fences to be viewed initially as just their title bar, themed any way imaginable (color, font, opacity, background image). Roll fence down, over, up any direction to gain access to icons. Rolled-down, open fence has themeable background (color, opacity, background image). After icon is moved in, moved out, created, or double-clicked, make fence do nothing, fade out to set opacity, or roll up again.
4. Desktop is its own fence. Make any unfenced portion of the desktop its own de-facto fence. Control fewer aspects of the desktop fence, but provide it so that there are no icons on top of icons (see below).

This is my wish list.