I wanted to have hideshow.el work more like org-mode, so I spent a little time to whip up hideshow-org.el. It doesn't integrate hideshow and org-mode. It simply makes TAB do double duty in code, both performing the regular code indentation as normal, and showing and hiding code blocks. If your code needs to be indented, TAB will indent. If no indentation is needed, then TAB will try to toggle the visibility of the block. I put together a screencast to demonstrate what it does. The screencast quickly goes over org-mode, hideshow, and then demonstrates hideshow-org. If you're already familiar with org-mode or hideshow, I'd recommend skipping to the 2:30 mark which shows exactly what hideshow-org does.