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Visibility makes showing and hiding invisible files easy.
Visibility was created in 2011 by Jeff Geerling (of Midwestern Mac, LLC). The application was originally submitted to the Mac App Store, but was rejected due to the fact that developers aren't allowed to change system settings that don't have public APIs. So, Jeff posted the code up on Github, and here it is!
Jeff created the application for two main reasons: (1) he wanted a faster/easier way to show and hide invisible files than the AppleScripts he was using, and (2) he wanted to try a hand at Objective-C programming (coming from a web/PHP background). (source)
Visibility is being developed actively, and feature requests, bug reports, etc. should be posted to the Issue queue (here on Github). If you'd like to fork the project, go ahead and do so – we're open to new features and ideas, as long as they don't take away from the speed and simplicity of the app.
Read the CHANGELOG.txt and README.txt files for further information.
Check out the public informational page for Visibility on Midwestern Mac's website.