Guys thanks for all the great info. I use an R50 and never should have upgraded to XP SP2 from XP. That upgrade broke several IBM Access items and upgrading from there led to an endless source of frustration (especially the BIOS information that insisted my model was 0123456 instead of 1829-7PE AND Lenovo didn't include that in the list of "must have" updates for my model

).
Anyway, after getting Fn+F5 to work, I still couldn't get Fn+F7 to bring up the menu. Guess what, for whatever reason I had Hotkey v.2.06.0708 (Vista version) installed instead of 1.31.0610 which was for XP R50. I uninstalled v.2.06.0708 and reinstalled 1.31.0610 and voila!! Presentation Director (v.2.57) now brings up the menu onscreen when I hit Fn+F7.
How I got Hotkey v.2.06.0708, I have no idea (might have been when I was downloading stuff left'n'right w/o knowing what I needed 'cuz my stuuuuupid BIOS could not tell Lenovo what my model info was).
So here's a rundown of my components:
Thinkpad R50
Windows XP2 SP2 (avoid SP2 if you can)
Power Management Driver v.1.43
Hotkeys v.1.31.0610
Presentation Director v.2.57
Hope this is useful for any other frustrated folks out there.