I, too, got tired of returning to the move tool option box to toggle between world and local axes. So i wrote this little script that makes a good shelf button.
int $wurldObjekt = manipMoveContext -q -mode Move
;
if ($wurldObjekt == 0)
{
manipMoveContext -e -mode 2 Move;
manipRotateContext -e -mode 1 Rotate;
}
if ($wurldObjekt == 2)
{
manipMoveContext -e -mode 0 Move;
manipRotateContext -e -mode 0 Rotate;
}
Messy code, I'll admit but it serves my purposes. Also, as you can see, toggles between world and local for rotation axes.
-James