Looks like there is no way i can use it without giving up on screen real estate. I'd love to have it pinned in the browser toolbar and I click it when I need it. But it wouldn't allow itself to be hidden and needs to have a floating circle taking up page real-estate.
After pinning the extension, click on it and deselect the "enabled" option (the line with the purple X). This will kill the floating orb UI but you can still click on the extension in the toolbar to use it.
Disabled it.