I successfully use this beansh macro in pre16:

// Marco B. Caminati 2009
// Toggles JEdit toolbar

b = (! jEdit.getProperty("view.
showToolbar").equals("true")) + "";
jEdit.setProperty("view.showToolbar", b);
jEdit.propertiesChanged();
//END

Save it as, eg, ToolBarToggle.bsh; place it in macros directory and associate it the keystroke you like.
Beware I'm a java/beanshell noob.
Regards, marco.