-Ability to place weapons. (I don't really like the classes system in FC2 too much.)
-I want the predators from the earlier Far Cry.
-Ability to enable physics on any object. (Ex. You make a skyscraper with concrete blocks and iron beams, and when you jump in multiplayer mode, and shoot a bomb at it, it will collapse and fall into little bits.)
-Decals, lights, particle emitters, and bots.
-More themes for your levels. (Everything being African themed is kinda boring.)
-Triggers (Like when you walk into a trigger area and it activates something, like spawning an enemy behind you.)
-More weather effects. (Snow, rain, fog, lightning, dust storms, sand storms...)
-Something faster than ladders and stairs...
-Zip lines.
-Ability to emit captured object(s). (Say you make a cluster of rocks. You save it in some kind of map editor inventory system, then you place a switch thingy that will shoot the object(s) you captured in the inventory.)
-Parachutes.
-Water that hurts. (Jumping off a bridge that is a mile high into water shouldn't be possible to live through in games.)
-Scale option for objects. (Like for making bigger trees, or for making a giant enemy that will destroy whole buildings.

)
-More lighting options. (Such as making everything black and white, adding bloom, or making the sun glow red or purple.)
-More skyboxes. (Instead of having just clouds in the sky, it would be cool if you could make some alien like background with multiple planets in the distance.)
-Character customization.
We'll, that seems to be all I can think of right now.