I agree with the accepted answer that a toggle button UI -- when unadorned with any other indicators -- should be avoided due to the ambiguity. The fact that this question is being asked is an indicator of non-uniform consensus.

In American English, the verb "to table" means "to remove from discussion entirely", which is almost entirely the opposite meaning from English spoken anywhere else in the world, where it means "to bring forward for discussion". As a result of this US-specific confusion, there's not much choice besides either clarifying through context or avoiding sentence constructions using that verb, at least when speaking to or with other Americans.

I think the same applies here: the small UI space savings is not worth the inevitable UX confusion this would cause, without modifications.