In Word 2010 you can set keyboard shortcuts for ribbon buttons using the program options. Choose File > Options and click Customize Ribbon. Click the Customize button at the foot of the dialog – this is available in Word 2010 but not in Excel 2010 curiously.
Click the tab that you’re interested in and locate the button on the tab that you want to customize. For example, if you choose the Home tab and click Bold as the command you’ll see that there are already keyboard shortcuts associated with that command.
Many other commands do not have keyboard shortcuts associated with them and if you want to add them you can do so.
For example, there is no keyboard shortcut for the Font Color Picker. Select Home tab and then Font Color Picker and press a new shortcut key. For example the shortcut Alt + Ctrl + Shift + C is not currently assigned.
Click in the box and press that keyboard combination. If you want to use that for the Font Color Picker, you can do so by clicking Assign. This assigns this keystroke to the Font Color Picker tool.
To test this, click Close and then Ok. Now when you select a piece of text you can apply the currently selected font color to it by pressing Ctrl + Alt + Shift + C.
Thanks for this article. It helped me a lot!