Add my name to this list. I'm using IE7 as well.
If I CTRL+Right Arrow to jump over words or CTRL+SELECT+ Right Arrow to select words or paragraphs, the whole paragraph indents to the right. The CTRL+division character jumps the cursor to the end of the page. My solution is to edit in code view but it would be nice not to have to do that.
FWIW... CTRL+Left Arrow does not descrease indent.