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By "more up to date/ correct" i mean that as far as I understand the review is meant to correct any errors in your lists. Having a project view there with your context view would let you see if the next actions are correct. Sometimes just the act of doing an action can change what you had planned should come next. (Assuming there is no performance issue for OF) showing the extra pane could eliminate the review process, or at least lesson the need for it greatly. The review process is great, but I find it hard to find the time for it.
RE contexts - I too have a long list of context actions. What I meant was I could easily get by with half the area put aside for context actions just by scrolling. The layout of the window would be much like apples mail application, which seems to work fine for a large amount of info.