Can you come to a realization in the middle of an Eclipse debugging session, get a great idea for making yourself more productive, take time to script yourself a working and fully debugged extension of Eclipse and continue what you were doing 20 minutes later?
I've done precisely this in Smalltalk on many occasions. You can script something like a custom browser that shows you everything that uses function A and also function B and has a reference to class C (and with complete syntactic accuracy) in around that time.
I suspect that this kind of very small grained toolsmithing is common for really good programmers in dynamic environments. The only problem is that it's been harder than necessary to integrate that with the most commonly used coding tool. (TextMate's ability to export selections to scripts is very nice, but it can go farther than that. Emacs is very powerful for this, but not everyone wants to script in elisp.)
It's not that Light Table is going to do something unprecedented. It's more like what git did with quick access to diffs: a quantitative change can become a qualitative change. Change the cost-benefit of toolsmithing, and you can use it in new ways.