Weaksid:
1) Right click on your Systray -> select properties -> click on the behavior tab.
This is where you set the autohide feature to give it that contracting XP style systray.
2) Check the enable filtering box and then click on the enable filtering button
This area is where you define what systray icons are shown and for how long before they become "hidden". I think the default is 5 minutes.
3) Check the automatically re-contract the tray when not in use box. Once unhidden this option will set the systray to re-hide the icons if they are not clicked.
4) Define your systray expand/contract button images. You have a state and an image path that you can set.
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I hope this helps.