App to enhance Menu Bar?

I am looking for two enhancements in the Menu Bar

1. After an item has been selected, be able to view other items by simply hovering over the item, i.e. you do have to click a icon again.

2. Some functionality resembling folders. So you open a folder item, it shows a list of the other items you have placed in there. I use a fair amount items, so It would be nice to minimize on the items showing. This would be especially helpful when using applications that have so many menus that some menubar items are obscured, like in Microsoft products.

Does anyone know if an app with anyone of these functionalties exists?