Just because I know razer and their buggy drivers...
You should try to uninstall all the drivers, and see if it works without any razer software attached to it.
my F9 key seemed to be stuck - not physically, but it was as if it were being held down. i upgraded to windows 7 pro (from home premium) about a week ago, but it had been working fine until today. can't see where the incompatibility would be - haven't installed anything else recently.
so i followed your advice and uninstalled the razer software: problem solved. thanks for the tip. good thing i didn't buy they keyboard to use the macro keys.