Adam Lasnik said:

The title pretty much says it all. I'd like to see some minor animation in the tray icon (perhaps some subtle pulsation or rotation or whatever) when the app is upstreaming.

I'd like to build on that: how about showing whether downstreaming is going on too. Indicate:

1. running (nothing special)
2. upstreaming
3. downloading
4. upstreaming and downloading
5. shutting down
6. major new version available