Hey Andy,
Yes, the Hue Tap is a smart control and can use the same actions as the other smart controls.
The toggle option under the wizard creates the following:
That should do exactly what you would like to do. If the group state is off, the group is turned on, otherwise the group is turned off.
You need to set this up through the Wizard instead of through Add action. See my previous comment how to do this.
Let me know if you have any further questions.