The default F5 key to toggle Third-Person View also causes several video players to refresh/reload a video, including at Popcorn Palace and Illumination Media Player.
I have no suggestion what the new hotkey should be, but it should not be F5 (refresh) or F11 (full-screen). One of the F1-F4, F6-F10 or F12 keys, or a key combination (Left Shift + ?) may be less disruptive.