Ok all....after a few hours and a few trys here is what I've learned.

Step 1) From the Keyclone mainscreen --> Hit the Setup Button --> keymap editor

Step 2) From here what I've figured out to do so far is to "put text" into the hotstring field and then hit a key or key sequence. Next, hit the add button to push your newly created hotstring up into the keymap area. I added each of the examples from the wiki page. ****Important note -- in the wiki example where you see "Ctrl + Alt + i" my keyclone adds an "L" in front of both the Ctrl and Alt key (for Left).****

Step 3) When you're done adding your hotstrings to your keymap...Give it a description. I named mine ToonA as in the wiki example. I then saved it. When the window spawns be sure to actually "name" it again.

Step 4) After you're sure you've saved off your ToonA...hit the "new" button and complete this procedure for each of the toons you're creating maps for.

Step 5) I hit "Apply" and then "ok". This took me back to the initial keyclone screen.

Step 6) I then used the "connect" button on the keyclone screen (as I've set up the PiP functionality) to launch my characters WoW sessions.

Step 7) After each WoW session had spawned, I went to keyclone and "right-clicked" one at a time on each session and used the "Load Keymap" feature for each Toon.

Step 8) Created a macro called LBolt and again entered the code from the wiki and assigned it to each of my toons under the "i" key.

In theory I thought that when I went lvl4 wolf hunting outside of IF that I would be able to spam "2" after selecting a wolf and see 3 lb's catch him on fire...and what actually happens is that my lead toon fires the lbolt and the other two chars stand there....it's only when I initiate the attack using the "i" key that they all fire at once.

Getting there...slowly...please advise as you see fit.