"What design characteristics would be favorable for speakers in a small room that would not be favorable for speakers that were to be used in a large room and visa/versa?"
Well this depends somewhat on where the speakers are located within the room but in my opinion in a small room you generally want the bass rolloff to start fairly high but it can be gentle. This should synergize better with the anticipated boundary reinforcement than a speaker that is "flat" down to a fairly low frequency. Conversely, in a big room you need speakers with more bass output, relatively speaking, because the room isn't going to help you out as much.
In any size room I like fairly uniform radiation patterns in the midrange and treble region. In a small room I like a fairly narrow pattern that can be aimed to minimize early sidewall reflections, but there are people who like omnis in small rooms (the reflections from an omni are likely to be spectrally correct, which is desirable). I like to have at least a 7 millisecond delay before the onset of reflections other than the floor or ceiling bounce, and that corresponds to a path length difference of about 7 feet. So something like baby Maggies located 3.5 feet in front of the wall would probably be feasible (I'd prefer 5 feet out, but we're talking about the minimums here).
In a medium or large room where we'll have a good 10 milliseconds or more before the onset of reflections from nearby walls, we can freely use speakers that have a wider pattern (dipoles, bipoles and omnis conceptually fit into this category if they can be placed far enough out into the room)). Such speakers give a greater relative level of reverberant energy in the room and in my opinon more closely approximates the sort of soundfield we experience at a live performance. Now there are competing schools of thought that object to "adding" reverberant energy via wide-pattern speakers, but that's another topic for another day.
So to recap, you usually need a lot of bass output in a big room but not nearly as much in a small room, and (in Duke's opinion anyway) wide-pattern speakers are better suited for medium or large rooms than for small rooms.