I was trying do the same thing (being a fan of both guake and terminator). Here's what I came up with (a customized version of desqua's answer to this question):

To launch an application or to show its window if already launched or to minimize if it is focused

1) Install wmctrl & xdotool, or in a terminal: sudo apt-get install wmctrl xdotool

2) Make a script:

• Make a file gedit ~/bin/launch_focus_min.sh

And paste this:

#!/bin/bash                                                                                                            

#

# This script does this:

# launch an app if it isn't launched yet,

# focus the app if it is launched but not focused,

# minimize the app if it is focused.

#

# by desgua - 2012/04/29

# modified by olds22 - 2012/09/16

#  - customized to accept a parameter

#  - made special exception to get it working with terminator





# First let's check if the needed tools are installed:



tool1=$(which xdotool)

tool2=$(which wmctrl)



if [ -z $tool1 ]; then

  echo "Xdotool is needed, do you want to install it now? [Y/n]"

  read a

  if [[ $a == "Y" || $a == "y" || $a = "" ]]; then

    sudo apt-get install xdotool

  else

    echo "Exiting then..."

    exit 1

  fi

fi



if [ -z $tool2 ]; then

  echo "Wmctrl is needed, do you want to install it now? [Y/n]"

  read a

  if [[ $a == "Y" || $a == "y" || $a = "" ]]; then

    sudo apt-get install wmctrl

  else

    echo "Exiting then..."

    exit 1

  fi

fi





# check if we're trying to use an app that needs a special process name

# (because it runs multiple processes and/or under a different name)

app=$1

if [[ $app == terminator ]]; then

  process_name=usr/bin/terminator

else

  process_name=$app

fi



# Check if the app is running (in this case $process_name)



#pid=$(pidof $process_name) # pidof didn't work for terminator

pid=$(pgrep -f $process_name)



# If it isn't launched, then launch



if [ -z $pid ]; then

  $app



else



  # If it is launched then check if it is focused



  foc=$(xdotool getactivewindow getwindowpid)



  if [[ $pid == $foc ]]; then



    # if it is focused, then minimize

    xdotool getactivewindow windowminimize

  else

    # if it isn't focused then get focus

    wmctrl -x -R $app

  fi

fi



exit 0

• Make it executable: chmod +x ~/bin/launch_focus_min.sh

3) Make your keyboard shortcut:

• Open your keyboard settings and create a custom shorcut with the command: /home/<user>/bin/launch_focus_min.sh terminator (~/bin won't work)




• assign this command to Shift+Escape (or whatever keyboard shortcut you used for guake).