to reproduce: - configure wm keyboard shortcuts to "Next workspace" on F2 - relogin - press alt+f2 keyboard and mouse have no effect on anything anymore, as if they were grabbed.
Can you provide the exact version number (xfwm4 --version) and clarify if the shortcut is "F2" or "Alt-F2"?
I cannot reproduce this, I need more details on your setup. Also, why do you need to logout/login, keyboard shortcuts are applied instantly?
Oh, wait, this is reproducible with "F2" (not Alt-F2)
Fixed in svn trunk rev. 29734.