User cannot reset shortcut keys by right-clicking on the main Tool Bar and going to "Menu Shortcuts."
WORKAROUND:
1) Exit out of Toad.
2) Locate the MenuShortcuts.ini file, which should be located in this directory: C:/Program Files/Quest Software/TOAD for Oracle/User Files.
3) Rename this file to MenuShortcuts.ini.old.
4) Restart Toad to retest the problem.