Can I program a logitech harmony one to have a 'watch netflix' button for this device?

Most Harmony remotes have “One Button Activity” features.  I don’t own one (but it’s next on the list).  I assume it’s similar to the macro capability of my  Pioneer Elite reciever learning remote.  However since Netflix IS nested in the menu system creating a macro to successfully navigate to it could be problematic.

GCG