Any way to group tags?

[Megalith]

Is there any way to create a tag button (e.g., "Find by Tags") that can be customized to show only certain tags or, better yet, separate and group tags into sub-menus? My tag collection is still modest but will inevitably grow large in time, so being able to make a custom tag button would be very useful. (AFAIK, the tag button drop-down will only show a maximum of 20 tags).

[highend]

Sure, why not?