In the hUtils.php helper file we can find the osc_run_hook('user_menu').
I beleive that i will be more logic to had the hook before added the logout link so if we add menu the dashborad the logout link will be always the last one in the list.
Here is my proposition that you could provide in v2.2 (code tested and working)
function osc_private_user_menu($options = null)
{
if($options == null) {
$options = array();
$options[] = array('name' => __('Dashboard'), 'url' => osc_user_dashboard_url(), 'class' => 'opt_dashboard') ;
$options[] = array('name' => __('Manage your items'), 'url' => osc_user_list_items_url(), 'class' => 'opt_items') ;
$options[] = array('name' => __('Manage your alerts'), 'url' => osc_user_alerts_url(), 'class' => 'opt_alerts') ;
$options[] = array('name' => __('My account'), 'url' => osc_user_profile_url(), 'class' => 'opt_account') ;
$options[] = array('name' => __('Logout'), 'url' => osc_user_logout_url(), 'class' => 'opt_logout') ;
}
echo '<script type="text/javascript">' ;
echo '$(".user_menu > :first-child").addClass("first") ;' ;
echo '$(".user_menu > :last-child").addClass("last") ;' ;
echo '</script>' ;
echo '<ul class="user_menu">' ;
$var_l = count($options) ;
for($var_o = 0 ; $var_o < $var_l-1 ; $var_o++) {
echo '<li class="' . $options[$var_o]['class'] . '" ><a href="' . $options[$var_o]['url'] . '" >' . $options[$var_o]['name'] . '</a></li>' ;
}
osc_run_hook('user_menu') ;
echo '<li class="' . $options[$var_l-1]['class'] . '" ><a href="' . $options[$var_l-1]['url'] . '" >' . $options[$var_l-1]['name'] . '</a></li>' ;
echo '</ul>' ;
}