Working with  Notify Icon and Context menu is simple
please follow the  steps

1. Drag and Drop the NotifyICon, Context Menu from the Tool Box

2. Change the names and text of the controls

3. Now, Create the Required Menu  for the COntext menu
for eg: add the Cut,Copy,Paste,Delete  Menuitems to the  context Menu

4. Now  Attach this context menu to the notify icon ,  by  selecing the  appropriate context menu  ,   You can do this  from the properties of the Notify Icon, change the appropriate context menu name.

Now  handle the  Proper Events  depending on your requrement for contextmenuitems

!! Happy Coding !!