Create the buttons only once. If you do this inside a command called AutoExec, HotkeyNet will do this when it loads the script.
To make a button appear or disappear, use TargetButton followed by either ShowWin or HideWin.
With regard to the two-second display period, since HotkeyNet runs all hotkeys in the same thread, it might be better to define two hotkeys with the same trigger. The second hotkey is a <HotkeyUp>. The first hotkey performs the toggle and displays a button. The second hotkey (the one that gets triggered when you release your finger) hides the button.
There's no command for font size but you can make a picture (for example, a gif file) with any appearance you like including any font size you like, and use it on a picture button. To do this, create the button with CreatePictureButton.
All these things are explained on HotkeyNet's reference pages. You can follow the links at the bottom of this page:
http://hotkeynet.com/ref/createbutton.html
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