Hi,
While optimizing the loading time of my blog, your plugin poped up as one that could be optimized.
You should consider bottom loading the Javascript file (and even add an option to load or not the plugin on the frontpage, as in my case, I only display the live-blogging stuff on a post page.
http://developer.yahoo.com/performance/rules.html#js_bottom
You should also minify the Javascript code (perhaps have one regular and one .min.js file so debugging can still be performed)
http://developer.yahoo.com/performance/rules.html#minify
Great job on the plugin!