Mac OSX Lion > How to use F12 in IE9-10

I've just installed the parallels trial on my MacBook Air along with Windows 8 preview release. I'm loving this app so far and looking forward to learning my way around it.

One thing I need to figure out is how to access the Windows IE9/10 compatibility menu. In Windows, when you click F12, it opens the developer's menu where you can select a specific "compatibility mode" for IE (emulates IE versions 7-10).

However, each time I hit the F12 key, it opens my mac volume control. Using the keyboard icon at the bottom of the parallels window does not seem to help (unless I'm doing something wrong)

Please help! TIA!!!

~ s