How about a "back/next" buttons/keycommands like in a web browser ?
Still, the easiest way I believe was implemented in Logic:
- if no tracks/items are selected, show all tracks at once (different item colors)
- double click a note to see only this track (velocity colors)
- double click empty space to see all tracks again
- select tracks or items in the Arrange Window: only selection is displayed (that is, if you have the "Link Button" enabled in a screenset/editor of your choice - ah, that handy "Link Button" and multiple copies of editors allowed in each screenset, some linked to selection, some only to current SPL, and some showing 'static' contents !
).