This script applet runs in the background; when you click its icon in the Dock it alternately rewinds the currently playing track by a set number of seconds (the default is 7 seconds) and continues playing or pauses the current track. Handy for transcription purposes.
The default rewind time can be changed with a simple edit to the script. You can also return focus to the application you are typing in with another edit. Read Me explains all.