I like the idea of including approximation algorithms. Your code
looks really good - documentation and tests!. So if you are
willing to contribute that to NetworkX it would be a nice addition.
Please go ahead and open a ticket, or tickets, on the developer site
to propose what you would like to add.
I'm not sure right now how to categorize approximation algorithms, but
to some degree it doesn't matter that much. We can discuss that
further over on the NetworkX developer site.
Aric
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Aric Hagberg
Los Alamos National Laboratory
math.lanl.gov/~hagberg