gui like icon instead of tray icon

[jvds]

is it possible to create a 16x16 gui and use it instead of the tray icon?

I have seen http://www.desksoft.com/BWMeter.htm does this, it aloes you you place one of the bandwidth graphics in the tray menu instead of its own icon, I don't know if they have a little gui or use a fancy way to draw an icon in real time but it would be nice to have an interactive icon, or a mini gui like icon you can to things with
any idea how it is done?

 

 

[JohnOne]

I imagine they draw over the tray icon with GDI