You can also display the Macro Group in the menu bar. You can select which icon to display and what title text to show in the macro bar, both of which can be dynamically updated allowing you to show information like stock prices, word counts, reminders, time, etc. For example, you could have an icon and time that showed how long you had been working without a break. The menu can include all the macros in the group, or just those macros with the Group Status Menu trigger.
It's an outstanding app and they have a (very limited) free trial. It lets you see each applications sound output, microphone input, adjust EQ and volume boosters for each app as well as route sound output to specific devices.
You can also mute the mic from the menu bar item, which of course can be integrated into a Keyboard Maestro macro.
Let me know if you have any questions about it because I've been using it on a daily basis for work for about a year now.