When you click on the “Record New Macro” or “Continue Recording” buttons, the Recorder application will change its state and begins recording the action. In the recording state, the window will change and is going to look like the image below. While the Recorder is in this state, all the actions that you perform will be saved and reported in a list. In this image, you can see the first recorded command.
You can change the size of this window, and by increasing the height, you can see all the reports and actions that have been recorded so far.