With IS, pretty much we need either keyboard repeater (default from wizard is keyboard and mouse on one hotkey) on, or the hotkey to be in a Keymap.

The default state of play, is repeater off but keymaps on.

Each keymap has a hotkey to activate it.
It also has an action it performs, which can be a keybinding.
The keybinding doesn't have to be the same as the activation hotkey.
It doesn't even need to be the same keybinding on each toon.

If you're going with keybindings, they have to do something within the wow client.