Google announced new features in their Compact mode on October 15, 2012. Which will allows you to one click a button to free up some more visual space; this will takes you menu action by typing in the search box.
As per the Goole Drive Blog Arnav Shah says: “Ever wanted more room to get stuff done in Google documents? Click the new button in the upper right corner of your screen to enter Compact Mode, and everything above the formatting menu will collapse and give you another inch or so to work with.”
This new feature quickly takes you the menu action simply typing in the search box. For example if you type word in search box like “Picture”, it will give you the different actions such as insert drawing, new drawing for adding the graphics to your document.
In this search box, you can able to format text in to bold, strikethrough or italic. Also can able to change the font or size , links or comments, insert image, make bubbled or numbered list , open the sharing settings, word count.
But this box is not support the language setting inserting the table, the paint format tool, copy/ past using the web clipbord and changing text/background color.