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I can't find a good search query to use in Google to uncover documentation about this. Do you know of any good links I can reference?

I like how Adium is doing it because it acts as a menu item but doesn't require you to take focus away from the application you're currently working with. I'd like to do something similar.
 
Just some extra stuff:

To remove the dock icon and make it only available in the menu set LSUIElement in Info.plist to 1

You can also get NSStatusItems in AppleScript using a addition i made, if anyone wants it just PM me
 
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