It would be nice to pull up the island editor, yank all the pesky-to-find traps off my island, and then place them in new locations. Same for decorations, "buildings", perhaps even walls (if I have been upgrading walls and change my mind about where I want the better ones, for example.) For a while I had a layout where I had accidentally dropped one wall... Somewhere. Never did find it, eventually found it languishing a level behind when I rebuilt from scratch. (In fact the ability to tap an object and see all of that type highlighted in my layout would be cool...)
Personality i might/would use the functionality. Now I rebuild my island from scratch. But if I could store all walls and decorations at once would make a changeover more easily. I personally would love it if you could store 2-5 lay-outs.