TextModeMenu or tmm.el was written by IlyaZakharevich? and provides MenuAccessFromKeyboard. See Menu Bar of the EmacsManual for its description.
Part of Emacs since 1995, ‘tmm-menubar’ descends the MenuBar in a text mode menu by choosing a single menu level at a time, until you reach a leaf menu item. You can only go down in the menu hierarchy; you cannot go back up. There is no real completion, but you can use the first letter of a menu item as its abbreviation. Key-sequence shortcuts are echoed. There is no regexp matching.
tmm.el after Emacs 22 is released. If you are interested in working on that, you might want to let the Emacs developers know: emacs-devel@gnu.org. – DrewAdams