I was having a hard time understanding what the Keyboard Maestro Status Menu was and how to get things into it. Maybe these screenshots will help someone else.
Review the steps in this screenshot.
If everything is setup correctly, the item will then show up in your Keyboard Maestro Status Menu.
[Question for anyone who knows: What's the optimum image size (pixel height/width) for posting images in Discourse? - I had a hard time getting the first image to fit within the width of the column]