property Item.Shortcut as String
Specifies the key combination that the user can press to select the item quickly.

TypeDescription
String A String expression that specifies the key combination the user can select the item by keys. The shortcut should include modifier keys such as ALT, CTRL and Shift 
Currently, the control supports Advanced Shortcut Keys Support, including UI visual appearance. By default, the Shortcut property is empty, which indicates that no shortcut key is associated with the item. The Shortcut property specifies the key combination that the user can press to select the item quickly. The Enabled property specifies whether the item is enabled or disabled, inclusive its shortcut key. The ShortcutKeyVisible property gets or sets a value that specifies whether the control's shortcut keys are visible or hidden. The ShortcutKeysInfo property returns the list of shortcut keys that are currently available. 

The Shortcut property can specify no modifier key, and so the item's shortcut became the parent's shortcut modifier plus the shortcut itself. For instance, if the parent item has the shortcut "CTRL + A", and the item's shortcut is "P", it indicates that the item's shortcut is actually "CTRL + A + P", which indicates that the item is selected as soon as the user presses the CTRL + A, and then P key. You can use this option to easily assign shortcut to items, by inheriting the parent's shortcut. At least one shortcut of any parent should have a modifier key, else the shortcut of the item itself can not be invoked.

For instance: 

The Shortcut property supports the following modifier keys ( code ):

The Shortcut property supports the following predefined keys ( code ):

Also, any digit ( 0 - 9 ) or letter ( A - Z )  is supported.

(previously) By default, the Shortcut property is defined as first sequence found in the item's Caption between <u> and </u> HTML tags. Pressing the shortcut key is similar with selecting the item and pressing the Enter key. The shortcuts in the context menu have effect only if the PopupIncrementalSearch property is exNoIncrementalSearch.