I forgot to mention that you can correct it yourself.
Here a fragment of GENMENU.PRG (in VFP install directory):

FUNCTION addkey
* Add support for intelligent Pad hotkeys. [Rev: 7][BEG]
* NOTE: For consistency, Pads no longer respect keyname and 
*       keylabel, they use the letter following "\<" <B>or the 
*       first letter of the prompt of none is defined.</B>
LOCAL cKeyname, cKeylabel, nPosition
IF objtype=c_item AND ;
   UPPER(levelname)="_MSYSMENU" AND ;
   EMPTY(keyname)                          
   nPosition = AT_C("\<",prompt)
   IF m.nPosition > 0 AND NOT EMPTY(SUBSTRC(prompt,m.nPosition+2,1))
      STORE c_key_padhotkey_LOC + UPPER(SUBSTRC(prompt,m.nPosition+2,1)) TO m.cKeyname
   ELSE
      IF !IsLeadByte(prompt)
<B>	      STORE c_key_padhotkey_LOC + UPPER(LEFT(prompt,1)) TO m.cKeyname</B>
	  ELSE
	      STORE "" to m.cKeyname
	  ENDIF
   ENDIF
   cKeylabel = ""
ELSE 
   cKeyname  = keyname
   cKeylabel = keylabel
ENDIF