Also you said "You could "combine" several modifiers by subsequently pressing different buttons - yes. The modifiers will not reset automatically, though, but only as you press the buttons again. Let me know, if you need an action that resets the modifiers with a single press - it's not hard to implement."

- does that mean that a single toggled modifier would reset itself after a letter was pressed to complete the keystroke but a combination modifier toggle would not? if so the action you suggested would be useful!

Could you not just invoke the virtual keyboard (not showing) with a default behaviour button map(instead of going into the menu)i.e. press plus on the remote, in any app or in the finder, to enter virtual keyboard(not showing) or better yet just program the buttons to perform the virtual keyboard 'toggle modifiers' action themselves without even invoking the virtual keyboard.

I Know it sounds silly but i dont need any of the menu funtions, i just need quick access to the modifiers i.e. one click to toggle a modifier on, and one click to toggle off if i want to cancel it or one click to toggle alt, another to toggle cmnd so you would have both alt and cmnd toggled ready to perform a keystroke, if you really had to enter the virtual keyboard first then it would be two clicks to get a shift toggle from anywhere in the system.

Last of all would it be possible to create a toggle space bar action as this would be useful when you have to use the space bar to drag a page in some apps!

Thanks again! 
Acam