When setting up a “Select or show a menu item” action in the KM Editor, you can bring up a little menu of running applications, then drill down into a given application’s own menus. I want that menu globally! That is, I’d like to be able to hit a global keyboard shortcut that would bring up a menu like that one. Then when I drill down to a command from a given app’s menus, I’d want the utility to activate that app and trigger that menu item. Can this be done?
I don’t know of any Mac application providing that capability for any running app, but there are two apps which offer that function for the app which is frontmost:
Hey Michael,
The answer is no – Keyboard Maestro won’t do that.
Your only option is something like what @NaOH has suggested.
-Chris
I know it won’t (currently) — that’s why I called this a feature request. 
I think KM is the only application I’ve seen that displays menus from multiple running applications, albeit for a different purpose that what I’m asking for.