I found that I could press the ` key without alt/shift and it still worked fine for me (I'm using a Macbook, so Windows might be different).
Yes, they are different keys on my keyboard (which is a Scandinavian PC qwerty type) c:
On the Italian keyboards ~ is not even present.. Ineed to switch the keyboard to US or to press Alt+1+2+3 to insert the ASCII code. I would go with a different button, maybe a letter (e.g. E=examine or L=look).