Hi James,
It will definitely give me two Launchpads, but you configure the launchpad(s) through sap/bc/ui5_ui5/sap/arsrvc_upb_admn and there's no reference in that to link launchpads to different ICF nodes - hence the only way I see this working is by an enhancement that looks at the calling URL to filter the response automatically.
e.g. My concern is the Launchpad administration tool does not support setting up catalogs that can be linked to a single ICF node or similar. e.g. The concept of cockpits in NWBC is not supported in the Fiori Launchpad.
Thanks for the idea though :-)
Cheers,
Matt