This really got me today. I just setting up a new instance of Eclipse Indigo (3.7) and when I set up key bindings for SVN, they didn't work. I looked at the team menu and the shortcuts were shown. But they didn't work. Many nails were bitten.
I found the solution in this StackOverflow post answered by Russell Davis: SVN key bindings not working in Eclipse. The issue is due to a breaking change in Eclipse 3.6. The fix: in the "Customize Perspective" dialog, go to the "Command Groups Availability" tab and check "Team" and "SVN".