Have you ever used one of those? It was sometimes possible to make them go circular! It ended up more annoying than useful because everything was in a different place each time you summoned it (depending on "context"!)
Last time I looked, Enlightenment would give you a full menu on a rt-click. If I rt-click a browser pain in firefox, I get most of the navigation toolbar. There is no added functionality to the infinite depth riscos managed. That's why it isn't used.
You can use a dock that pops to the top, an auto-hidden panel, or just ctrl+alt+arrow and get a new desktop. Now all your options are available and in predictable places too.
But you're welcome to write one

But look:
http://lxer.com/module/newswire/view/92444/index.html
http://ro-lookandfeel.blogspot.com/