Pretty vast idea. This is simply a gadget that tells your game while running that the performance is low.
The gadget would for instance give out the FPS count and you can then wire this up to disable non-important aspects of your game when other more important calculations are needed. Like disabling physics or deleting items or dynamically toning down graphic quality and animation of assets.
That would totally work too! As I said, just a vast idea, but in general having information about your game status in your logic when the game is running would be really helpful :)
Or an output from the global settings gadget I guess?