On/Off timers are definitely great but more options would add even more flexibility
(Edit: Oh wow found out about the 3 different requirement types in the config. Neat! :D)

[1: Time of day]
Would apply the effect based on Time of day. Formatting example:
speed.1.day.12000.24000.100.200
12000 = moonrise
24000 = sunrise
100 = ticks on
200 = ticks off
In effect would give speed 1 every 5 seconds on and 5 seconds off so long as its nighttime
(Formatted this way so You don't have to specify on/off times if You want it to just be infinite within the time specified)

[2: Key press requirements]
Would apply effects when a key is pressed. Formatting example:
jump_boost.key.sneak.60.100.200
In effect would apply Jump Boost for 5 seconds with a cooldown of 5 seconds but only after "key.sneak" is held for 3 seconds.
This would use the "Keybind identifier" for defining keys (Or whatever Forge uses for Modded keys if different)
setting key held ticks to 0 instead of 60 means the effects are applied immediately (With cooldown still considered)

Either way fantastic mod as it makes "Behgameon RPG Additions" work without "Mine and Slash." The creator intended it to work without it but setting modifiers and enchantments did nothing. So this mod was a perfect solution. Really robust mod man :)