This is really cool Extension for VS.NET 2010 with SP1, when it hits breakpoint Debugger canvas shows just the methods that you are debugging with call lines and local variables as shown below.
Here below image I invoked two methods from different class so it opens different windows for each method with Local variables.
Here the following images shows the method and its Local Variables .
Here is the different options we can set for Debugger canvas, to get here click debug-> Options & Settings from VS.NET 2010 Menu.
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FYI. The Debugger Canvas is built on technologies that only ship with Visual Studio Ultimate, such as IntelliTrace and the code analysis features in the Architecture tools.