Hmm. Well, that would be much more interesting than SETI: simply client software for distributed search of celestial bodies. Users register and receive data blocks (graphical data from telescopes) and search through them with the software for new celestial bodies (brown dwarfs, planets, whatever). When a client finds something, the corresponding data material is presented to experts. They determine whether there really is something there. And the finder gets to name the celestial body.
Unfortunately, that's far too obvious, so with distributed computing you'll probably continue to have only the choice between frequency analysis of background noise, cryptographic competitions, or maybe this protein analyzer after all.
At Astronomische Kleinigkeiten there's the original article.