If you are using an OTS2 theme you shouldn't have to change the shortcut settings (saving rare exceptions).
Between the "" is just the shortcut caption when you put the mouse above it. The shortcut action it's in the end of the line, for ex: !none, !execute ... , and many more.
In this site the only shell is "LiteStep", and there are many themes for this shell here.
Try this link, should help you understand better litestep:
http://www.litestep.net/?section=4&action=list&catId=1