I concoted this mode from the work of others quite some time ago. I used some stuff from Ex_Raisban and stuff found on the forum. I tried the slide out version but didn't like it because I had to keep my cursor on the stopwatcth to keep it from retracting. I also tried a non-sliding stopwatch just on the map screen but didn't like it because it took up too much space. In the end I picked what you see below...stopwatch replacing the rudder orders. I never used it anyways with the set heading to view command. It has to be activated from the periscope or UZO screens, but works geat otherwise. Here are a few screenshots.
Default:
Stopwatch view:
Stopwatch on map screen: