It all works as expected for me, except that I can not assign the ESC key using the dialog. Pressing ESC while "New Shortcut Key" has the focus gives me a backarrow, not the "Esc" string it ought to:
View attachment 2232
So here's my low-tech solution:
... then exit and restart Take Command.
(The first line deletes any existing EraseLine directive; the second recreates it with the correct value. Deleting the directive first should not usually be necessary, but if the existing line contains control characters it can confuse WritePrivateProfileString(). And my putzing around with the OPTION dialog managed to put -- you guessed it -- an ESC character into the .INI file. Urk!)