I find the current layout a bit clunky. Even though I have the QA calendar active, I still need to go the calendar list, find the proper item, expand it, and finally I can do something with the calendar - even trivial tasks like adding a meeting or switching to a list view.

Maybe you could make the action list more easier accessible for the currently active calendar? Just take the whole action list, and put it in a box right above "Calendars". It will perform actions for the currently selected calendar.

Then you can remove the action lists from the Calendar list items, so it would be a simply calendar selector, nothing else.

What do you think?