Although At Ease will prevent you from launching a control panel, At Ease will not prevent hot keys from being activated. The purpose of a control panel is to give functionality to the Macintosh and if the functionality includes the use of a hot key, only the control panel can set whether or not it is active. However, for security reasons, At Ease does disable the space bar hot key from opening the Extensions Manager at startup time.
Currently, the hot key to toggle between Macintosh and DOS cannot be disabled (only changed) and therefore if PC Setup is loaded at startup time the hot key will be active.
Other Apple control panels that are activated or affected by hot keys are WindowShade, Easy Access, CloseView, and Keyboard. The hot keys are active if the control panel loads at startup time and the hot keys are required to use or activate that control panel.