Can some one tell me how to send an alt F4. The MBP takes option (alt) key for sound preference. I would be happy to turn that keyboard shortcut of on the OS X side if I could find it in preferences keyboard options or sound preference. I have also searched parallels.
Have you tried setting the "Use F1-F12 keys to controls software features" in the Keyboard and Mouse System preferences? I'm assuming you mean it lowers your volume when you press F4. Setting this option on should take care of that problem.