does setMnemonic() work? If not, I'd think you'd have to make a Component that has focus at all times (i.e. top level frame) a key listener, listen for F2 and send an ActionEvent to the button when that key is hit.
Nate, I bet you have hundreds of these little programs like this from helping people out on javaranch. Have you ever thought about putting together a type of SWING FAQ and for each Question, you have one of these little programs? I know we could just search the SWING forum, but knowing a search is returning some code instead of filtering through all the garbage might be nice... I think it would be neat and very useful. Maybe even write a book. Then you could get that Author status.