Here are some of my suggestions:
Ability to earn/barter for permanent festival maps to travel to the four festival areas (Bree Festival grounds, The Party Tree, Duillond, TH Tavern)
Daily Quest Resets
Change those quests which have 24-hour resets from you do them (e.g. if you do them at 6pm you can't do them until after 6pm the next day) to be reset on the daily server resets in stead (3am servertime every day).
Custom Portraits for all Festivals
Make it possible to earn Custom Portraits (Frames) from all Festivals, not just from Yule.
More Racial Dances
Ability to earn more than the 2 we get now from each race quests.
A Game of Hobnanigans
Get this quest running again (Summer Festival) - this was great fun.
More Cosmetic Variety
The 2013 robes & cloaks only has been rather a setback from previously being able to get dresses, hats, held items, etc. Same with war-steed blankets.
Crafted Festival Consumables
Make it possible to earn crafting recipes for the festival consumables (such as perfect snowballs, black silk gloves, potent bird seeds, spider legs, etc.) so that you can craft them in stead of grinding the same quests over and over.
New Festival Idea: Winter's End
It always feels like there's a long way from Yule Festival to the Spring/Anniversary festivals in April/May/June. A Festival at end of February/Start of March would be welcome. To celebrate the end of winter and celebrating the coming spring is an idea. Something to build on: Traditionally in old times this was the time where you counted your livestock and wealth and prepared the fields for planting.
New Event Idea: Solar/Lunar Eclipses (Short)
Similar to the Treasure Hunt & Shipwrecked Mariners (running over 3-4 days): Solar/Lunar Eclipses cover an instance/zone/all of Middle-earth (in graphics as well). Celebrations could include honouring Arien and Tilion with song, music, storytelling and dancing.