I was so close, but i was missing the offset caused by adding the tray entry in the menu. My output was a 3 pixel wide menu with no text. I added the tray level of the menu, and POOF !. Thanks so much. For the un-imaginitive, here is the code :

sub Tray_RightClick {
    print "Right Click\n";
    my ($x,$y) = Win32::GUI::GetCursorPos();
    
    my $menu = new Win32::GUI::Menu(
            "tray"      => "tray",
            " > exit"    => "Exit",
            " > foo"     => {-text => "foo", -name => "NI_b", -checked
+ => 1 },
            " > bar"     => "NI_b",
            " > foobar"  => "NI_b",
        );

    $main->TrackPopupMenu($menu->{tray}, $x, $y);
    1;
}
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i had a memory leak once, and it ruined my favorite shirt.