Yes, I'm setting the bleed from the Document Setup window.
If I am understanding your request, then the answer is, I believe, no. There is not a way to turn off or hide the bleed in normal view. Normal view is where you are able to see the entire structure of your layout and elements on the pasteboard. Unless, of course, you are one of those people who turn off everything (hide guides, hide frame edges, etc.) from the normal view.
I prefer to use the normal view to see what I am working on, where the frames are, how they align to the guides, etc. When I want a preview of the printed page, then I use one of the other view options to hide the page elements for me.
If I want to see the page and all the elements, use normal.
If I want to see the page without bleed, use preview
If I want to see the page with bleed (but nothing on the pasteboard outside the bleed), use bleed
PS: Once you select one of the preview modes (preview, bleed, slug, etc.), using the 'w' key will toggle between the modes until you select a new alternate mode.
Message was edited by: MT.Freelance
Preview! That's exactly what I needed!