It would be nice to be able to optionally override/modify the keyword that is associated with a given filepath.
The power of Launchy is the ability to establish a personal shorthand for common operations. For me that means a handful of 2-5 character mnemonics. Unfortunately, matching on a desired file for the first time can be arduous and error prone. So I typically type out a longer more precise spelling the first time, then immediately try again and again with shorter and shorter renditions to arrive at my preferred mnemonic. This step-wise refinement works, but I have noticed that it pollutes the [History] section of Launchy.ini with entries I never intend to use again.
Perhaps Alt-Enter could prompt for an alternate keyword. This would allow for not only shorter spellings, but even arbitrary mnemonics, eg, "js" for "Javascript Reference". (It would of course be good to check that the replacement keyword is not already in use.)