This idea has been developed and deployed to Canvas
The new gradebook requires a lot of scrolling to check on all assignments. The assignment group and module filters are great, but when looking through the entire course for late submissions that may or may not be in any particular assignment group or module, it would be helpful to have a "needs grading" filter that displays only the assignments that happen to have ungraded submissions.
This takes a different approach than Needs-Grading-Feature which would sort the order of students to put needs grading at the top or bottom of the class list. I see these as complimentary features in a big class of students with a lot of assignments.