How to create an application shortcut in Chrome for Mac This has been bugging me for a while, and despite googling around, I cannot seem to even find an explanation as to why the "Create Application Shortcut" is disabled.
Unfortunately, the answer to your question is "you can't," and the reason is "because Google says so.

http://support.google.com/chrome/bin/answer.py?hl=en&amp;answer=95710 says 


  This feature is only available for Google Chrome on Windows and Linux.


but there is no real explanation as to why. Nor have I found one anywhere else. It seems like an oft-requested feature, but I've never seen Google even suggest that they are planning to add it (although I presume/hope that they will).

Alternative Solution: If you are interested in creating site-specific browsers on Mac OS X, Fluid.app works great, but (IIRC) it is based on Webkit, not Chrome.

2013-06-27: Turns out there is a way to make Chrome SSBs on the Mac, although it's a little convoluted.

The instructions are too long to replicate here, and there is a shell script and/or AppleScript involved. You can find both of them at 
http://www.lessannoyingsoftware.com/blog/2010/08/149/Create+application+shortcuts+in+Google+Chrome+on+a+Mac

LifeHacker covered this as well, and created a video to go along with it. You can find that at: 
http://lifehacker.com/5611711/create-application-shortcuts-in-google-chrome-for-mac-with-a-shell-script