Hi blindfoldjump, the thing is those tools in Modo are related to manipulating 3D point cages for organic sculpting. CAD solids cannot be manipulated in the same way as edge loops in polygon modeling, so there's kind of a mismatch between Modo and MoI in that sense.

For growing and shrinking a face selection to its neighbors, you can do that currently by a script, see here:
http://moi3d.com/forum/index.php?webtag=MOI&msg=6988.4

There is also a select loop script which you can find here:
http://moi3d.com/forum/index.php?webtag=MOI&msg=3335.5

I do want to add some more ways to select a chain of edges in the future too, but since the overall CAD workflow does not share the same major focus on manipulating edge loops like sub-d modeling has it might not be something that gets elevated to double click though.

- Michael