I used to have a Dashboard widget that would allow one to input Terminal/bash commands, but it stopped working. This would seem to be an able replacement, perhaps. It needs some documenting, as I can only get it to work by defining my command(s) in the menu system; there does not appear to be a way to directly input bash commands. And then, if you want to see the output, you must pipe it to a file (OK, not such a big deal -- I just send it to my Desktop as a text file).
I use the Terminal a lot (iTerm2, in fact) so I'm going to see if this is really a time-saver or not. I give the developer kudos for bringing this capability to the menu bar, and will be watching to see how it grows.