Nice plugin, scribu!
I found a bug though. Let's say I have a dependent plugin that looks like this:
/* Plugin Name: Cool BuddyPress Plugin Depends: BuddyPress */
If BuddyPress isn't activated, I can still activate Cool BuddyPress Plugin by using the "Activate" option under the "Bulk Actions" dropdown menu.
A quick solution could involve hiding the checkbox for plugins that do not meet the criteria.