Language pair lists

I need to implement UI for language pair selection in Chrome extension. The simplest solution is 2 comboboxes with language list (variant 1).

But i think it takes too long to open a combobox, find needed language, click on it. So i think of a language toolbar of some sort, so a user can place on it several languages which he frequently uses.

Is it a better solution than the first one?

^{download bmml source – Wireframes created with Balsamiq Mockups}

P. S. i've just visited Google Translate page.. and they've already done something similar:-) But the list is created automatically