Well, I finally took the plunge and re-soldered new capacitors -- or at least tried to.
What's interesting is that when I took the PCB to the local electronics store, the guy thought that someone had already replaced the capacitors -- the solders "didn't look factory". I believe I got this keyboard from the local FreeGeek, so this information is going around.
Anywho, I made a mess of the small one -- I kept the iron on there so long that it began to melt through the plastic of the SMT. At that point I got it off with a straight razor and did the big one too.
After trying to clean up the pads, I tried to solder them. It's a ****ty job, and I think a big part of the problem is the cheap 20w soldering iron I bought. But, I think I got them on enough to plug in the chip-- and! ...sigh. The same two LED light up on PS/2 connection, even when the computer is turned off.
I do have another keyboard and a two more of each capacitor, so I might try to get some expert help on this next one. Also, I noticed another part, which might be a capacitor, on the chip, so if I can figure out what it is, I might try to replace that too.
Other than that, thinking of starting a petition for unicomp to make m2 clones... mmm, m2 clones