The previously released menu search workflow has been universally panned due to the poor performance of the AppleScript that dumps menu contents. The caching of results worked very poorly as a stop-gap. So, I've re-written the menu extraction in Objective-C. It's much faster. The source is here: https://github.com/ctwise/alfred-workflows
You can download the workflow directly from http://tedwi.se/u/db
To recap, this workflow lets you trigger an application's menu's from Alfred. For example, if you're in iTerm and trigger Alfred, you can type 'm view' to get a list of all menu items with 'view' in the name or that belong to the 'view' menu. Selecting one of the entries triggers the corresponding menu entry in iTerm. In one sense it gives you a command-line to control your applications.
The workflow has the beginnings of shortcut key display as well but it's currently disabled due to numerous bugs.
v1.3 - Provide error message when assistive devices isn't checked.
v1.2 - Skip the Safari History and Bookmarks menus. They take too long.
v1.1 - I fixed the bug with Alfred not remembering selections and added AlleyOop support. Download from the same link.
Requires OS/X 10.7+.
You need to turn on OS/X assistive device support to allow this workflow to operate. You can find the checkbox in Settings. The settings page looks very different in recent versions of OS/X but the wording for providing access for assistive devices is very similar no matter what OS/X version you're using. Here's an image of the settings from the latest version of Mountain Lion.