Have you tried the Predefined keys? They are the best to use by default.
So you are trying to press:
Control & O, both held down for 2-3 seconds?
Are you doing this in network mode, or local? There is a Hold button bug I found recently in Network mode. It happens when you use both macro_select and macro_deselect. The deselect doesn't get sent. But it looks like you are using both.
But here is the thread.
Try this for predefined macros:
macro_select = predef:CONTROL, KEYDOWN
macro_select = predef:O, KEYDOWN
macro_deselect = predef:O, KEYUP
macro_deselect = predef:CONTROL, KEYUP
That should hold the Ctrl-O keys down until the deselect macro is run.
WBK