Here is another thread where it appears someone had it working until dropbox updated the client. The author then used autoit to check the status, but I don't know where to start to try to convert it.

https://forums.dropbox.com/topic.php?id=29075&page=2&replies=4

Arend, have you messed with getting icons from the tray with dynawrapper or is there a way to use autoit script in com?