In the area for Media, Library, Annotations etc. allow for the option of icons only. That way you could have two columns of icons (...without the wording) and fit all of them in one view instead of having to click on the "More" button several times (...actually a lot) during the editing period.
I think the developers got this one wrong. Although it is true that you can collapse the toolbar, this gains HORIZONTAL space, not VERTICAL space. What would be really nice is to collapse to icons that take up only 50% of the vertical space. Like this (thanks to Techsmith SnagIt)