On Windows systems there is a special key that brings up the context menu of the currently focused item. I would like to be able to do the same on the Mac. I don't want to reach for the mouse every time I need to bring up the context menu as some applications rely heavily on those.
No there is no contextual menu button or hot key combination for OS X. I'm sure there are some third-party applications that enable this, but nothing that I know of. You might search http://www.versiontracker.com for Mac applications/utilities that have to do with contextual menus, and see what pops up.