Recently, Google Chrome introduced extensions for stable channel using which all users can enjoy extended power of Chrome. One annoying thing about Chrome extensions is that if you install even five or six extensions, your toolbar area will be crowded. This decreases the address bar’s width too.
Right now, there is no option to hide or disable icons for some (or all) extensions. If you are looking for a solution, your wait is about to over (though not that early!). Google Chrome will soon have an option to hide extension buttons and to adjust button area width.
This feature is not integrated with any channel of Chrome yet. If you are interested to try this feature, you need to download latest build of Chromium, the open source browser behind the Chrome.
Once this feature gets ported to Chrome, you will be able to hide the extension buttons. While I am at it, I wish for another useful feature: ability to re-order extension buttons. This will help users to prioritize the extensions. Chrome extensions are getting mature day by day, however they are still far away from attaining the capabilities of Firefox add-ons. :-(