Great!
There are capitalizations that I removed, like:
Time Signature -> Time signature
Time Display -> Time display
External Timecode -> External timecode
Selected Items -> Selected items
Project Length -> Project length
Ripple Editing -> Ripple editing
Now Time -> Now time (May be better as "Current time")
Batch File Converter -> Batch file converter
Simply because it looks better to me
Also, wherever "enabled" appeared, I renamed that action to "Toggle <action name>" instead of "<action name> enabled". Why? Because almost all of those actions display a checkmark when they are turned on, which means they are enabled, and display nothing when it's turned off. This is inconsistent with your wording, since in your case, when the action is turned off, the name in the menu should change to "<action name> disabled", and it doesnt. "Toggle" works much better here.
What else...
I have added a separator in "Now time", and put "Use ruler time unit" at the bottom under that separator. I have renamed the differently named action in several places which toggles "red ruler", to "Toggle red ruler while recording". I have added "SWS EXTENSIONS" and "SCRIPTS" labels to Extensions menu. All instances of "Play rate" should be changed to "Playrate" as well, perhaps?
Etc., etc.