1) Give Master Alchemists the "Use Poison" ability given to Assassins and Blackguards. Because that just...kinda makes sense in my perspective.
2) Allow a Master Alchemist to turn Area Spells, such as Fireball, Cloudkill, Cacophonic burst into Elixirs...except they are GRENADES.
Think about it: A "Grenade" uses the exact same formula as making an Elixir. But it creates just that: A grenade of an area spell. So you can put a CL 30 Delayed Blast Fireball into an Elixir...and give it to your buddy to chuck at someone!!
One of these already exists as an item in game, it's called an Elixir of Horus-Re, which is a Sunburst in a bottle. So why couldn't you put a Fireball in a bottle?
Thoughts? Ideas?