In our community (as in RivkA's), which shall remain nameless to protect the fully involved, women dance with a sefer Torah. This year I had the privilege of dancing with a sefer Torah in front while carrying Blondini Boy on my back, an experience I hope he'll never forget.
Following the hakafot (dancing with the Torah), we have a community kiddush, complete with a reproduction of the beit hamikdash constructed from cake and candies by the kids of the community.
Then, in parallel to the regular Torah reading in the beit haknesset (synagogue), women who choose to participate, meet in the garden of a private home for a women's reading of Parashat v'Zot haBracha. When we finish we return to the main reading for the children's aliyah (again, refer to RivkA's post -- only we certainly remembered the candy this year, and way too much of it if you ask me) and all the rest.
Then we have a community picnic / barbeque in the park next to the beit haknesset for some excellent, jointly prepared food. What a wonderful way to share the cooking on the last day of a slew of holidays!
It's not without its complications... The sefer Torah we women take for the hakafot is the only one of three that we use, since its donors do not mind that women dance with it or read from it. The donors of the other two sifrei Torah disapprove of the idea and we honor their request. Also, both of the retired rabbis in our community do not approve of the women's reading, and have voiced their disapproval, but not in the form of psaq halacha.
(Addendum, 28 Oct: Please see this post which corrects an inaccuracy).
It took many years for these customs to become status quo around here, but now they are. The girls (and boys) of our community will certainly grow up thinking it's the status quo. Call it Facts on the Ground...?
Keep the balance,