The icon displayed at any point in time will be shown in the menu bar either to the left of the Apple Menu or to the right of the Application Menu. You may change this by selecting the Preferences… option from the File menu. Doing so will bring up the following dialog:

The top part of the dialog allows you to enter a value representing the frequency at which ShowShare should ask the Finder to let it update its icon. The value is in sixtieths of a second. The default value is 60, or one second. At this value, ShowShare will ask the Finder to give it a chance to update the indicator icon once per second. This is a very inobtrusive setting, but you may set it as high as 600, or ten seconds.

Keep in mind: other applications can be mean and not give time to the Finder, which will also mean ShowShare doesn’t get time. ShowShare only takes an incredibly small amount of time to draw the indicator, so it shouldn’t slow your Mac down noticeably. Additionally, ShowShare might update more frequently than once per second. This can happen when not much else is going on and the Finder decides there's enough free time to let ShowShare update its icon. The Finder is in control.

The middle of the dialog lets you indicate whether you want the indicator to appear on the left or right side of the menu bar. Whichever you select will have a black box drawn around it (in the dialog above, neither icon is chosen).

If you click “OK”, the settings will be saved to a “ShowShare Prefs” file in the System Folder’s “Preferences” folder for future reference.