This is a nice implementation. The state can be clearly seen from the front (unlike just having a switch easy to leave in the on position) and the shutter is internal so it's nicely protected and not going to get dirt inside and scratch the lens / cover.
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A microphone switch is harder to get right since there are other inputs usable as microphones. Accelerometers (including inside hard drives), gyroscopes and other motion sensors can be usable as decent microphones. Speakers can also function as microphones depending on the setup.
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I'd like to know more about this. Could you point me to a good technical resource on using non-microphones as microphones?
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An accelerometer is essentially a microphone: it can be polled quickly to measure vibration from sound. The same thing applies to speakers. Microphones can be used as poor speakers and speakers can be used as poor microphones. Only has to be good enough to decode speech from it.