Hey look who came out of hibernation

I'm glad you find the time to visit occasionally blabberer
What I was going to say was - I think the strategy to using CBL effectively would be similar to using the Olly Run Trace feature.
In the simplest situation, say you've got a Call with an unknown execution path below it. You set a BP on the Call, set a BP on the instruction after the Call (the return address), and execute the trace. With CBL you would click on Configuration and accept the default Included Range (the entire .text section).
As with Run Trace, it makes sense to limit yourself to smaller code blocks and "feel" your way through the execution path, rather than trying to digest reams of log data. With CBL you can select Excluded ranges within larger ones, for example if you find you get logs of conditional jumps in large loops or message queues which are of no interest. There are CBL context menus in each of the CPU, Executable and Memory map windows to assist with setting ranges.
For a menu item such as you're interested in tracing, I'd probably set an initial BP on the WM_COMMAND (0x111) handler in the messaging queue for the main window procedure (which will trigger when a menu item is selected). Then you can set up CBL (choosing to log the entire .text section if you wish). Then enable the stop BP, for example at the *start* of the messaging queue, and run the program.
This will get you one full "turn" through the messaging queue for a menu selection. You really don't need CBL or anything else for this, you can single step trace it. The important part is finding the message queue and recognizing the WM_COMMAND handler. Olly itself should help with that, I believe you can set a conditional BP with MSG==111, search for exact syntax.
You should be able to manually find the handling code for the menu item you want that is somewhat *outside* of the messaging queue. When you do, then you can use CBL more effectively from that execution point onwards, without having to worry about logging within the message queue (which can be added as an excluded range).
I hope that sort of helped, it sounded like you were hung up logging a message queue and that's why you were getting "everything" recorded.
Kayaker