I spent a little time using the Bundle and Services views today to see how well they worked. It turns out that I had a little problem with the Karaf data feeds not updating properly. The OSGi JMX MBean interfaces do not seem to support the NotificationEmitter interface so there is no way to asynchronously update the data.
This isn't terrible since I just wrapped the data update in an Eclipse system job that runs every 25 seconds. The down side is that the viewer refresh invalidates your selection because it wipes the source data completely. Some day when I am motivated I'll try and fix it.