I've been working on a python script, which allows the user to isolate an object ( hiding all other objects ).
The difference between this script and the tool from “download shelf” one, is that this one keeps in memory ( by a simple .tmp file in $TMP folder), which objects were displayed or hidden before the isolate process.
Like that, when you exit isolate mode, not every objects will be displayed again but the only the nodes displayed before.
The script is still WIP, any bugs or errors, let me know

How to use:
- Copy the .py file in “C:\Program Files\Side Effects Software\Houdini XX.X.xxx\python26\lib” or whatever python folder used by Houdini
- Create a new tool in a shelf: Right-clic -> new tool
- In tab “Script” write these two lines:
import IsolateSelection
reload(IsolateSelection)
Select an object to isolate that object by a clic on the tool just created, clic again the tool to display back all other nodes.
Thanks,
Guillaume