You can turn on the video and audio clip cue bars, switch the timeline cue bar between Project and Chapter cues, switch video track displays to flmstrip & audio track displays to waveform using the Timeline Display Mode dialog.
The timeline cue bar is visible at all times, but as noted can be switched between Project (blue cues) and Chapter (orange cues). When this is done the settings of each are preserved.
Most times the only reason to switch to Chapter mode is when setting chapter cues befor exporting DVD compliant MPEG-2's for use in DVD Workshop or DVD MovieFactory. In these programs Chapter cues can be used to create almost instant DVD chapter menus.
The Timeline Display Mode dialog can be brought up by clicking on the 2nd from last icon on the timeline toolbar;
