Okay. So far, the best I could come up with on my own is the following.

/etc/init.d/mce stop

This stops the usual function of the Home key so it can be easily mapped to something else using xmodmap or xbindkeys.

root
/etc/init.d/mce start

This brings back its normal function again.

At the end of my #! /bin/sh script file I'm running, it stops after hitting the command

root

How can I have it run /etc/init.d/mce start as root within my script?

I have easyroot_1.0-4_armel installed.

Another thing, after running that command as root, it messes up my Advance Backlight settings.

The only way to resolve this is Applications -> Settings -> Control panel -> Display and then just hitting Okay.

What might be a command to reload whatever settings it's doing with this?

Lastly, stopping mce also causes the Power button to longer function and xbindkeys -k doesn't see it being pressed either way.

Any helpful advice on this?

I'd like to have the Power button kill a bunch of running programs as a backup safety check in case something goes wrong.

Well, hopefully one of you nice monkeys will respond back here.

Cheers all.

I'm still stuck on this.

Ukki suggested that I should try
chmod +s /etc/init.d/mce

then run
/etc/init.d/mce start
as user in my script.

This works to some extent.
The backlight display changes in brightness but the hardware keys (home and power button) don't resume back to their normal functioning.

So yeah, still looking for a little help here.

I'd just like a simple way to stop that extra signal when the home button is pressed and be able to restore it back when I'm done running my program.

I'm still looking for an answer here.

Someone please provide me with some guidance on how to disable the home button without it bringing up the task switcher and then restoring it's function back again.

I'm asking of so little on this.