Hi there,
I've noticed that I've never been able to access the menus using the keyboard shortcuts - the Preferences window as well as the Save function have to be accessed with the mouse.
When I bought Spark CDM, I immediately installed ver. 1.4 and everything else seems to be working fine on OSX Lion 10.7.3 - just the keyboard shortcuts don't seem to work.
I haven't tried the 1.4.1 release yet; if the issue is resolved in 1.4.1 I'll post it here.