For final proofreading your projects (after having them QA'd etc.), you can create a project template to easily switch to a non-distracting view.
You can also hide the menus that you don't need from the menu bar (via the View menu). Would be nice if these menu states would be saved in the PT too. Perhaps also a non-distracting tag colour and colour for the non-translatables?
If you have set Project Statistics to automatic updating, you should deactivate this too, prior to creating the Project Template.