How are Toggle macro recording and play macro supposed to work? I couldn't find any documentation on them they are under the Tools menu
You can start recording a macro using the 'Toggle Macro Recording' menu item, but you can't save that macro. You'll be able to replay the last macro recorded but there's a conflict in the keybinding, so you'll have to use the 'Play Macro' menu item to replay it.
Please note that the macro system is currently very limited, so commands like Cut/Copy/Paste aren't being recorded yet.