Is it possible to hide the sidebar by clicking its right edge? Any configuration option or module for that?
It's not possible at the moment, but probably feasible via a web module.
You'll find the documentation about the web-client and web modules creation over here: http://doc.openerp.com/trunk/developers/web/
https://github.com/OpenSur/Odoo_addons web_menu_hide both for v7 and v8. But you have to rename folder name to be consistent with the code inside. Thanks