Menu Token module provides tokens, that could be used in title or in path of menu items (links). For example, if you create a menu item with path: "user/[current-user:uid]", the url will be changed "on fly" to: "user/1" (assuming you are user 1).
Tokens are provided by Token module. Menu Token allows to use both global tokens and entity ones: node, user, term, etc. Entity tokens have several methods of substitution: from context, random and user defined.
Menu Token Resources
Menu Token functionality can be extended gracefully. Following some examples:
Menu Token module implements Ctools plugin system and allows to plug in new token handlers.
Use Menu HTML module and select "Allow html" in your menu item.
Superfish integrates jQuery Superfish plugin with your Drupal menus. Use Superfish 1.9-beta5 or greater.
Menu item visibility exposes configurable and extendable visibility settings for menu links. You'll need to set module weights so that Devel node access > Menu item visibility > Menu Token.
You can use Tokenize Request Parameters module along with the Menu Token to configure this sort of functionality without the need to code a new module. Tokenize Request Parameter allows you to define what URL parameters to convert into tokens. It makes the tokens available to any token module that consumes tokens (Token Filter, Menu Token, Rules, etc.)
This module lets you upload a sprite image for a menu item and, with the use of CSS, configure different sprites of the image for different states of the link (normal, visited, hover and active).
This module will provide a sort of control panel for users with administrative rights. It can be used to store commonly used links or to add block content to the 'dashboard' region.