I had a hard time deciding, whether repaint whole toolbar or not. I tested the idea by filling whole toolbar (1440px) with small buttons and the component refreshed itself fast enough (AFAIR it was an 2.3 Ghz Intel with Windows Vista onboard). If it does not, one shall implement a mechanism, which would repaint only changed areas. I thought also about doublebuffering, but the component is being drawn on bitmap rather than on canvas, so it would consume a noticable amount of memory.
I'm on a vacation right now, so I may respond with a delay and I have no PC here, so I'll not be able to look into the sources. However, I'll keep track of this thread for sure.
I also want to thank all of you, who participate in developing this control further. It's good to see the control alive again

I hope, that it'll eventually became useful for the Lazarus community. Keep up the good work, folks

Best regards -- Spook.