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We are also developing [b]Magento mega menu extension
This is a Magento Menu extension that helps store-owners create professional magento navigation Menu easily without technical knowledge. Your customers can view and access products and categories just by hovering over the menu.
Easy to create Menu using provided templates.
Menu Horizontal or Vertical with effects: Hover, animate, toggle
Customize the style of menu to fit with your store: width, color, icon, position
Not slowing sites like normal Menu extensions
You can download it here: http://www.magestore.com/magento-mega-menu-extension.html