Just tried some other events, and the keyUP event does work.. But also still does select a new button . This also works and also still selects a new button:

vb Code:
  1. Protected Overrides Function ProcessDialogKey(ByVal keyData As System.Windows.Forms.Keys) As Boolean
  2.  
  3.         Select Case keyData
  4.             Case Keys.Up : MsgBox("UP")
  5.             Case Keys.Right : MsgBox("RIGHT")
  6.             Case Keys.Down : MsgBox("DOWN")
  7.             Case Keys.Left : MsgBox("LEFT")
  8.         End Select
  9.  
  10.         Return (MyBase.ProcessDialogKey(keyData))
  11.     End Function

But I guess it can be quite frustrating when your controlling your rc car, when pressing a key the selection of your buttons changes constantly :P