As per the attached sequence, I tried clearing a keyboard shortcut I added earlier, to no avail.
Deleting the shortcut key combo from the “Key Sequence:” clears the text from the box but does not clear the key combo from the menu item.
Clicking the “Reset” button next to the “Key Sequence:” clears the text from the box but does not clear the key combo from the menu item.
Doing both the above and clicking Apply (or apply with either of the above) does not clear the key combo from the menu item.
For my need right now I can get around it, since I’m just flipping the keys between the two menu items pictured.
If I simply wanted to free up the key combination, it looks like I’d be out of luck.