There are 3 pages of processes running is that the way it is supposed to be?
Yes, it's perfectly normal to have that many processes running. Most are components of Mac OS X and the applications and widgets you have running. I don't see anything on the list that stands out that might account for that icon.
First, try holding your Command key down while dragging that icon off the Menu Bar. It probably won't work, but it's worth trying.
Next, check your Login Items under System Preferences > Accounts to see what you may have automatically launching.
Before you start the following procedure of killing processes, make sure you've closed any apps you have running, so you don't lose any work you might have open. Also, log all other users off your Mac. In fact, it's a good idea to restart your Mac before you begin:
You can also try killing various processes until you identify the one responsible for the icon. If you kill a process that controls the icon, the icon should disappear. You probably won't be able to kill any process critical to Mac OS X, but if you do, the worst that can happen is your Mac will shut down. Simply reboot and continue the process until you've identified the process responsible for the icon. Before you start this procedure of killing processes, make sure you've closed any apps you have running, so you don't lose any work you might have open.
I didn't take the time to look up all processes and I don't recall them all from memory, but you could start by killing the following:
Grab
HP Event Handler
HPIO Trap Monitor
master
mcxalr
smoke
xgridagentd
xgridagenthelper