More or less already there - Ctrl/a to highlight all tracks, then press any bypass fx button. Now the master always shows in the mixer it's handy for clicking its fx bypass button too, which admittedly requires a separate click.
But if something dedicated were needed, ctrl or shift or alt click on the master channel's mute, solo or fx mute button would make a handy way to do it globally for each of those functions. Actually, come to think of it, there could be a record button on the master channel to enable the "save live output to disk" function, and then with ctrl (or whatever) pressed too, that button would record-enable all channels (without affecting the status of "save live output to disk" though).
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