Thanks for your reply.
Yes, that seems to be the problem: 
Better Touch Tool in Mac isn't registering any key [FN+x] combinations from the Matias, whereas it does when sent from the native keyboard. 
Also, [Fn+x] shortcuts that are assigned using the Apple keyboard are not then triggered by the Matias. 
Basically, it seems I can only use my pre-assigned shortcuts with the chiclet board, not the Matias. 
Rebooting into Windows 7 in Bootcamp, Auto Hot Key logger shows that Fn works as expected (e.g., modifies page up/down to home/end, etc.).
I haven't run an actual key-logger in OSX yet. 
But whichever way the Matias controller is programmed, it doesn't produce the same result as the Apple keyboard (using BTT in OSX at least). 
I was hoping it would.  

Maybe this is a noob question that will open a whole Pandora's Box of programming complexity (

). 
But:
Is it so difficult to get a Mac-specific keyboard to produce the same results as the one that Apple sells?
[Edit: That's not meant to be a criticism of Matias specifically. It could equally be a software issue in BTT. I'm just asking]