I was just upgraded to CS5 (from cs4) at work and now my hotkeys do not function in the same way. When I have something selected with the direct selection tool and the hit 'V' to switch to the selection tool, the drop down view menu gets selected instead (also happens when pushing any other button associated with the menubar. Is there a reason why my hotkeys are defaulting to the menu bar rather than the tool it is assigned to? I have checked the hot key preferences and confirmed that it is set for the correct tools. I just cannot stand having to click the art board (and thus un-selecting my object) in order to use a hot key.
You should maybe check if settings in your system override settings in Illustrator.
Try just using the Cmd(Ctrl) key.
This happnes when you have focus on the menu bar.
Make sure you haven't pressed the ALT key which moves the focus to the menu bar and the focus remains there. if you press any key that is a shortcut for any menu item then that menu will open up.
You can press the Esc key to remove the focus from the menu bar.