Here is one that resides in the tray and has different color status icons
btIO
There are three icons:
Green BT-Icon = Bluetooth is enabled and in discoverable mode
White BT-Icon = Bluetooth is enabled and in connectable (invisible) mode
Red BT-Icon = Bluetooth is disabled
You can switch between connectable and disabled by simply pressing the icon in the tray bar.
When you tap'n'hold the icon a menu apears that lets you set the mode you like, and lets you exit the program.