You can customize the actions for the "Select" button, with the "Play/Pause" button performing the same action.

The problem at hand is that Apple used a smart tweak while adding the extra button: it sends the same IR code for both the "Select" and "Play/Pause" button, but sends an additional, special IR code when you press the "Play/Pause" button. These two IR codes are sent in such rapid succession that they're not always reliably received/decoded by EyeTV receivers.

Support could be added for the "Play/Pause" button, but it would not be reliable. If an estimated 50% of the time, the extra button is not recognized correctly, however, and another action gets executed, all that would cause is frustration. That's why there's no support for the additional "Play/Pause" button on the aluminum models.

That said, Remote Buddy does support the extra button with all other external receivers (f.ex. eHome/MCE).

Best regards, 
Felix Schwarz