I have written a RMB menu customization whereby you can sort materials via prefixes or by bins. Basically, lets say you have the following materials:
grass_rough1
grass_rough2_dark
grass_trimmed
grass_default
tarmac_smooth
tarmac_shiny_reflective
sand
water
wax
if you sort by prefix, your RMB materials menu would contain Two SUB menus, "Grass" and "Tarmac" and the remaining un-prefixed materials, lambert1, sand, water and wax. The grass sub-menu would contain the 4 "grass" materials, and the tarmac sub-menu would contain the 2 "tarmac" materials.
If you switch it to "By Bins" a sub menu is created for every bin you have defined in the hypershade. Each of these submenus will show the materials that are in it, which means you can even show the same materials in multiple sub-menus..
That was pretty simple to do so I guess making it sort alphabetically would be easy too..
:nathaN