I don't see why a lack of transaction reversing in the wallet is a problem. Most reasons for people to reverse a transaction are not because of a flaw in the currency system, it's due to a flaw in human actions.

People have to think of cryptocurrency as cash, not as a credit system.

Think of how you use cash for transactions.

Is there a way to reverse a cash transaction? No, you have to ask the person for the cash back, and it's up to them to give it to you. If they don't, you are basically out of luck. This is not a flaw in the way cash works. If it was, people would have stopped using cash long ago. (Example: You hand someone $20 instead of $10. That's not the fault of the currency.)

If you want someone to provide a service and you pay them ahead of time in cash, you are trusting them to provide that service. If they don't, then you have to ask them for the cash back, or you sue them. There is no way to automatically reverse this transaction. This is a problem with a person trusting a person to do something. This is not a flaw in the way cash works. (Example: You need your car repaired and they ask for $500 before they fix it, but they never fix it. That's not a fault in the cash, that's your fault for paying ahead of time.)

You can reverse a credit card (CC) transaction, but that isn't cash. If there is a fraudulent charge on your credit card, you contact the CC company and they investigate and credit your account. They can't reverse that payment, they have to ask the fraudulent party for the money back or sue them. It's up to the CC company to resolve, or they absorb a loss like this. This is not a currency problem, it's a business problem with the CC company paying without verification. (Example: Company X double-charges your credit card. The credit card company pays Company X. That's not a problem with the currency, that's a problem with the CC company not verifying the charge, and the CC company will pay you back out of their own pocket after investigation.)

This is why people use credit cards. Think of credit cards as a 3rd party acting as a type of consumer protection. This should not be the job of the currency.

About the "Sending to the wrong address" problem - The ability to reverse a transaction is not the problem, verifying the correct address is the problem. If you need to transfer money from your bank account to someone else's bank account, do you blindly send to whatever account number they give you, or do you verify with them first that it is the correct number (you read it back to them or something). This is what crypto needs, some sort of encrypted over-the-internet digital handshake ability for verification before a payment is sent/processed.

Should address verification be part of the wallet? I don't think so. I think it should be a different application that runs in concert with the wallet and has access to your wallet's address book. To me, the wallet is simply that - a wallet in your pocket with cash in it that you can quickly use if you don't need to verify addresses.