,
here's another : 
exciting isn't it ?
Current version, 0.8 now available in foreigner-danish (english) and with transparency.
Yes, I am working on gnome2 support, and actually already have a working version. But, the transparency is hosed because gnome2 panel is hosed - so wait...
Here's a screenshot of the applet :
,
here's another :
exciting isn't it ?
Oh, the transparency and aa text (signal strength display is optional) 
and 
.
What does it do ? It shows the signal strength in 6 steps - 1 for network device gone, 1 for no signal, 4 for some, ok, good, excellent signal. It has themes (evil), and can optionally pop up dialog boxes when the signal/device comes/goes. Optionally display signal strength in % and features hi-tech features such as transparency and AA text.
It actually now (0.8) uses the same theming system as power-applet, so it can show every percent, do animations for no/broken link and other such evilness.
Here's the download :