These short cuts are really collection of very simple Macro scripts. Like my Turn Viewport Maps On/Off this one has had some serious staying power with artists to date it has to be one of my most used scripts. All of the macros are designed to manipulate V-Ray materials globally throughout the scene, very quickly and efficiently. Each macro effects every V-Ray material in the scene. They are very handy in a number of situations, for example when you get a file from a junior that has the glossy sub divs on every material sky high.
To install just run the script and all of the macros will be available under the category "Daves Tools" where you can choose to add all or some of them to a menu. I suggest you create a new menu and add them all to it. At the request of my good friend Warwick Hays from Monkey3Media I am currently in the process of creating a GUI version as well that will give artists a lot more control. If you have any suggestions for improvement or there is anything else you would like automated in V-Ray please let me know I am always looking to expand upon and improve my scripts.