APC40 Device Control Indicator (Push LED)

I would like to program a separate window that would give me device control information in the same way as Push's LED.
Ideally, it would query the live device that has focus, and label each of 8 knobs (laid out like the device control section) with the device name, the parameter controlled and its value. It would change with whichever device had focus.... I should be able to hide the window at will (and hopefully undock it).

I think it would be a great learning and creation tool, since it is difficult to remember which knob natively controls which effect in which device, especially if there are multiple windows....... and it would aid in becoming familiar with the most important parameters for performance...

Is this possible with M4L, and if so, where would I start?