Whew... this was a fast update but I had to do it. So this is practically the Canvas Resize 2.0, but there is still much to do.
Hold SHIFT KEY and hold RIGHT MOUSE BUTTON, while holding the SHIFT KEY you can see south, west, north and east with that are different colored squares. When you hold the RIGHT MOUSE BUTTON while holding the SHIFT KEY and hovering over your canvases sides, you will resize in real time without having to input a width and height number value.