Yes, this is in there now. From the browser admins and editors can create relations. There is an option in the build on whether you want yahoo style related categories (where they are mixed in with the regular ones), or separated style.
This can be done by editing the Description tag and inserting the HTML you want. We discussed this a long time ago and decided not to make it automated as typically you want finer control of the html that is displayed on your frontpage then you would be able to achieve automatically.