I have read quite a few posts on this site as well as others that complain about the Home/Application button on the lifedrive only being able to be programmed to Applications or Favorites. While this is true using the built in preferences, I am currently using Quickswitch v1.52 which can be found at www.standalone.com. It allows a user to program each button for up to four applications, including the home button. Each press of the button will cycle through the list, or you can hold the button for a second to see the list and choose which application you want. Hope this helps some of you out there.
BTW if you try the trial version, make sure you buy or delete it before the trial period runs out, it can cause problems if you don't as it won't let you access the program to disable it.
If we shadows have offended, think on this and all is mended, that you have but slumbered here, whilst these visions did appear.