I've already approached the Evernote staff and it appears to be a local problem on my Mac (OS X 10.7.5), so I'm taking it to this forum.
The problem in a nutshell: the menu in my Evernote is different from that of the actual release. In addition to that, shortcuts are assigned mysteriously.
Things I've tried:
Cleared all global keyboard shortcut assignments.
Deleted and re-installed Evernote from app store: Same problem.
Ran AppCleaner and re-installed Evernote from app store: Same problem.
Deleted Evernote from my keychain and did all steps above: Same problem.
Here's the discussion on the Evernote Support site. Screenshot below for a quick view:
The latest Evernote release only has Paste (cmd-V) and Paste As Plain Text (cmd-shift-V). I don't know where my system is getting an additional menu Paste Without Formatting. What's frustrating is that this problem prevents me from using the Paste function through a keyboard shortcut (tried assigning a global one but it doesn't work).
There is nothing that overrides "Paste" in my Global Application shortcuts. I've even unchecked everything in the other shortcut tabs.
Any idea what's creating this problem, and how I can address it?
Update: It appears to be an account-specific problem. Created a second administrator account, there all the menus were right. Chances are, something in my profile continues to override the menu.
Final Update: The solution should have been fairly simple: assign a new shortcut to the ghost menu item, Paste Without Formatting so that it releases its link to Cmd-V. The problem was that Evernote was reading its shortcuts configuration somewhere else. I even did a full grep of my entire Mac for the phrase above, no result. What fixed the issue? I upgraded my OS to 10.8 and voila! Evernote started accepting new shortcut assignments. That allowed me to restore the original Paste shortcut.
Thanks to everyone who helped out on this problem.