My PC is HP Pavilion b160sl and I also have the same situation: changed the value in the BIOS but nothing changed.
I am sure to have saved the BIOS settings modifcations since if I entrer the BIOS again I found that everything is set as I have set.
Seems as if that setting "Action key Mode" is simply ignored.
This if even worse than not having a setting!
Please make available a new keyboard driver that WORKS!