First things first: great work!
My honest respect to the developers and their effort.
EDIT: sorry for slow typing. Some of my thoughts already seem to have come up during the last hour.
Approaching new ideas I always try to understand what’s been the intention and rely on consistency thereafter. It really helps me, if I find the model and the usage - here the UI - consistent and understandable.
Please let me elaborate on the Semantic Model under these circumstances. Words starting with capitals are identifiers from the UI.
Category
Is it mostly icon or only icon? Wouldn’t it make sense to display a textual and/or graphical icon picker, like it is displayed for Type, Semantic Class and Semantic Property?
What about your own pictures select box?
Changing a Group Item’s type
In the UI it seems one can not change the Group Item Type after creation, opposite to Semantic Class and Semantic property. You have to delete the affected object an re-create it.
If you like to and the object sits at a higher hierarchical level in the model, all sub-object will be moved to the container of the affected object and have to be manually restructured. A loss against textual configuration files, as long as you can’t select, drag and drop multiple objects.
Add Location
If you choose Add Location in the modelling part of the UI, you can choose a Type during creation. There you can choose e.g. Dimmer, which, as other Types as well, seems not to make sense at this point, for they seem to represent Point Items. Or is it, that you mean Group with Dimmers - a construct not yet seen in the textual configuration files?
You can even select Location or Group as the type, which I find irritating. For a Location is naturally of type Location and not of type Dimmer or Player. “Model your home with Items…” states: A Location is a group item…
Also "HABot Walkthrough (2/n): Semantic Tagging & Item Resolving says, that “The ontology defines 4 main types: Location, Property, Point and Equipment, with associated tags for each of them.”
It is (like) a Java class hierarchy and defines sub-classes e.g. for Location, like Indoor, Room, etc.
So it doesn’t makes sense to me, that I can choose a Type which is not a sub-class of Location at all for a Location, especially not select between Location and Group type.
Maybe it’s only in the words. Maybe it’s meant to say “Add (tagged) Group (Location, etc.)”. But then again Dimmer, etc. makes no sense.
Please let me say, that I can follow the possibility to set a Semantic Class and Property on Locations.
Add Equipment / Add Point
For me the same problem. The said is true for Equipment, for Point it is the other way round, for you can choose a Type of Group: “A Point is not a Group but any other type of Item and is usually linked to a Channel”
Point and Property
Now to the hardest part: imagination 
It’s almost impossible to fit everyone, so I agree that Point and Property should be used in a creative manner, that adds to the outcome. For me a simple ON/OFF (for Switch or State) is missing. Yes, you could imagine a Level of 0 or 1. And what about Power and Energy - same physical quantity.
What do you think of my thoughts?
BTW: as mentioned in some posts already adding Equipment directly to Locations doesn’t seem to work, for there will nothing be displayed under Locations, Equipment or Properties.