How Do I Create Macro to Switch triggered by single keyboard button?

Do you guys know if there is a chance to make a “switch” using Keyboard Maestro? It is powerfull app but I can’t figure out how to create macro that would do 2 things triggered by just one button but not at the same time. Example: I wish to map one key to trigger a click on some button in iTunes (so I recorded action which move my mouse cursor to desired direction and ‘click’) and then I’d like to use the same button to move the cursor in different direction and ‘click’. Is there a way to do this?

If I understand you correctly, you want a Macro to be used with iTunes, which will click a specific button the first time the macro is triggered, and then will click another button the second time it is triggered.

If this is correct, then you should be able to use the pattern used by this Macro:
MACRO: Toggle Start/Stop of Macro [Example]

Of course, instead of stopping (cancelling) the macro, you will want to change that to click on your second button.

Take a look at this macro, and let us know if you have any further questions.