For me it's doing SHIFT+Esc on Mac.
lol! never noticed that before! :-)
q3config.cfg
Assuming the MAC works similar to Linux, the q3config.cfg will be in .openarena, a directory that stores all the mods & new maps downloaded when joining servers.
yes, that's the way i always used since now: editing the q3config.cfg to rebind "toggleconsole".
the user's baseoa folder on mac is in ~/Library/Application Support/OpenArena, not in ~/.openarena, since ioq3 (and consequently oa) follows Apple's guidelines about support files.