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There is not a keyboard shortcut to launch the icon editor that I know of. You could potentially write a Quick Drop Keyboard Shortcut to accomplish this.
As for the actual scripting code in your plugin, here's some code that uses the LabVIEW Icon API to launch the icon editor and update the icon of a VI:
To learn more about the LabVIEW Icon API, and other really cool "unofficial" APIs in LabVIEW, check out http://www.ni.com/hiddengems .