I think a while back I suggested something similar. If not, I meant to. So yes to this.
There are a number of things, like this, that would reduce the need to escape, click options, etc. And with how they're able to handle the immense number of controls they already have, Im sure they can add this stuff. For example, switching controller setups on the fly. Some games already have this ability to switch between mouse control, to stick control, by hitting a key. This could be done similarly.