There are several ways to extend the features of Talend including custom code components like tJava, tGroovy, and tJavaFlex which allow executing arbitrary Java or Groovy code. User defined functions allow creating separate Java classes with reusable static methods. Custom components can also be created as new components that appear in the palette for tasks like supporting new data sources or custom processing. Custom components provide reusability and visibility as they have a unique icon and purpose.