Taskbar RSS is a free portable tool that allows you to read RSS Feeds from your taskbar in Windows 7.
How to use:
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Download the tool and extract the archive.
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Open feed.txt.
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Type the feed URLs that you want to read separated by lines.
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Save and close the file.
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Run RSS7.exe from the downloaded archive.
To read the RSS feeds just hover over the app. You can view the next & previous feed item by clicking on the buttons.