'Math Formatting' and 'Text Formatting' ribbon panels should be combined.
As it is, one or the other already grays out when you are in the opposite region. The text/math formatting box is nearly the same for both (except bold, underscore and italics). And 'Label Styles' and 'Spelling' are active regardless. So the only main components that are graying out are 'Paragraph', 'Links' and 'Results'. They could be combined without doubling in size. It wouldn't be wider than the 'Plots' panel
I usually write a note on the right hand side every time after an equation so I am alternating between writing math and text all the time. Usually Mathcad can't read my mind how I want my results displayed so I need Math Formatting. But for text I change font size for side notes, for headers and full page width discussions. It would save a lot of time if I didn't have to switch between math and text formatting.
Alternatively, when you are in 'Text Formatting' and you select an equation it switches over to 'Math Formatting' and vice versa.
Alternatively×2, more keyboard shortcuts could be implemented. Like Ctrl-- and Ctrl-= for font size while in text boxes and Ctrl-uparrow and Ctrl-downarrow for number of decimal digits in results. Maybe even Ctrl-F just to circulate between the five different result formats. Like you have a shortcut for partial derivative (Ctrl-D) that not everyone uses and no shortcut for decimals up/down or font up/down that everyone has to use.