Can the overscan setting be set to toggle from a keyboard command?

I'm not sure if a keyboard short cut can be made but it would be programmed in the System Preferences of the Keyboard and Mouse. But I opened up DVD player and this is a Displays settings area in the Full Screen tab. I'm not sure if the Use current video size in full screen would help automatically make the overscan change when you watch a DVD. But I'm sure when you talk about videos to mean videos other than DVDs too.

There is a program SwitchResX, which with possible keyboard shortcuts for the program itself, you might be able to switch screen resolutions. But you might be able to setup a screen resolution that you wouldn't have to change the resolution or overscan anymore. There is also DisplayConfigX that does the same thing but you could blank your screen and need another to try to undo what settings you made.