diff --git a/src/DiffEngineTray.Tests/OptionsFormLauncherTests.cs b/src/DiffEngineTray.Tests/OptionsFormLauncherTests.cs
new file mode 100644
index 00000000..11639abc
--- /dev/null
+++ b/src/DiffEngineTray.Tests/OptionsFormLauncherTests.cs
@@ -0,0 +1,96 @@
+using Keys = System.Windows.Forms.Keys;
+
+/// <summary>
+/// Saving the Options form re-registers all three hot keys. The combinations used here are held
+/// for the length of a test and are ones nothing else is likely to want.
+/// </summary>
+[TUnit.Core.Executors.STAThreadExecutor]
+public class OptionsFormLauncherTests
+{
+    /// <summary>
+    /// Each hot key used to be bound as it was reached, so a collision on the second returned
+    /// with the first already live on its new combination - while settings.json, which is written
+    /// after this, still held the old one. The dialog said the save failed and the keys disagreed
+    /// with it until the tray was restarted.
+    /// </summary>
+    [Test]
+    public async Task A_collision_leaves_every_hot_key_as_it_was()
+    {
+        var previous = new Settings
+        {
+            AcceptAllHotKey = HotKey(Keys.F13)
+        };
+        // Both on one combination, so the second registration is refused by the OS rather than by
+        // whatever else happens to be running
+        var settings = new Settings
+        {
+            AcceptAllHotKey = HotKey(Keys.F14),
+            DiscardAllHotKey = HotKey(Keys.F14)
+        };
+        await using var tracker = new RecordingTracker();
+        using var register = new KeyRegister(0);
+        Bind(register, previous, tracker);
+
+        var errors = OptionsFormLauncher.ReBind(register, tracker, previous, settings);
+
+        await Assert.That(errors).IsNotEmpty();
+        // What the OS thinks, which is the only account of it that matters
+        await Assert.That(IsHeld(Keys.F14)).IsFalse();
+        await Assert.That(IsHeld(Keys.F13)).IsTrue();
+    }
+
+    [Test]
+    public async Task A_save_that_binds_takes_every_hot_key()
+    {
+        var previous = new Settings
+        {
+            AcceptAllHotKey = HotKey(Keys.F15)
+        };
+        var settings = new Settings
+        {
+            AcceptAllHotKey = HotKey(Keys.F16),
+            DiscardAllHotKey = HotKey(Keys.F17)
+        };
+        await using var tracker = new RecordingTracker();
+        using var register = new KeyRegister(0);
+        Bind(register, previous, tracker);
+
+        var errors = OptionsFormLauncher.ReBind(register, tracker, previous, settings);
+
+        await Assert.That(errors).IsEmpty();
+        await Assert.That(IsHeld(Keys.F16)).IsTrue();
+        await Assert.That(IsHeld(Keys.F17)).IsTrue();
+        // The one it replaced is given up, rather than left registered for a key the settings no
+        // longer mention
+        await Assert.That(IsHeld(Keys.F15)).IsFalse();
+    }
+
+    static void Bind(KeyRegister register, Settings settings, RecordingTracker tracker) =>
+        Program.ReBindKeys(settings, register, tracker);
+
+    /// <summary>
+    /// Whether anything holds the combination, asked by trying to take it. A register of one that
+    /// is already taken is what the OS refuses, so a success means it was free - and gives it
+    /// straight back.
+    /// </summary>
+    static bool IsHeld(Keys key)
+    {
+        using var probe = new KeyRegister(0);
+        return !probe.TryAddBinding(
+            id: 9,
+            KeyModifiers.Control | KeyModifiers.Shift | KeyModifiers.Alt,
+            key,
+            () =>
+            {
+            });
+    }
+
+    static HotKey HotKey(Keys key) =>
+        new()
+        {
+            Control = true,
+            Shift = true,
+            Alt = true,
+            Key = key.ToString()
+        };
+}
diff --git a/src/DiffEngineTray/Settings/OptionsFormLauncher.cs b/src/DiffEngineTray/Settings/OptionsFormLauncher.cs
index 1b40bdde..fcca3225 100644
--- a/src/DiffEngineTray/Settings/OptionsFormLauncher.cs
+++ b/src/DiffEngineTray/Settings/OptionsFormLauncher.cs
@@ -13,24 +13,20 @@ public static async Task Launch(KeyRegister keyRegister, Tracker tracker)
         var settings = await SettingsHelper.Read();
         using var form = new OptionsForm(
             settings,
-            newSettings => Save(keyRegister, tracker, newSettings));
+            newSettings => Save(keyRegister, tracker, settings, newSettings));
         instance = form;
         await form.ShowDialogAsync();
         instance = null;
     }
 
-    static async Task<IReadOnlyCollection<string>> Save(KeyRegister keyRegister, Tracker tracker, Settings settings)
+    static async Task<IReadOnlyCollection<string>> Save(KeyRegister keyRegister, Tracker tracker, Settings previous, Settings settings)
     {
         if (!settings.IsValidate(out var errors))
         {
             return errors;
         }
 
-        var saveErrors = new List<string>();
-
-        AddHotKey(keyRegister, settings.AcceptAllHotKey, KeyBindingIds.AcceptAll, () => tracker.AcceptAll(), saveErrors);
-        AddHotKey(keyRegister, settings.DiscardAllHotKey, KeyBindingIds.DiscardAll, tracker.Clear, saveErrors);
-        AddHotKey(keyRegister, settings.AcceptOpenHotKey, KeyBindingIds.AcceptOpen, () => tracker.AcceptOpen(), saveErrors);
+        var saveErrors = ReBind(keyRegister, tracker, previous, settings);
 
         if (saveErrors.Count != 0)
         {
@@ -51,6 +47,38 @@ static async Task<IReadOnlyCollection<string>> Save(KeyRegister keyRegister, Tra
         return [];
     }
 
+    /// <summary>
+    /// The three hot keys, all of them or none.
+    /// <para>
+    /// Each one used to be bound as it was reached, and a collision on the second returned with
+    /// the first already live on its new combination while settings.json still held the old one -
+    /// so the dialog said the save had failed, and the keys said otherwise until the next restart.
+    /// </para>
+    /// </summary>
+    internal static List<string> ReBind(KeyRegister keyRegister, Tracker tracker, Settings previous, Settings settings)
+    {
+        var saveErrors = new List<string>();
+        Bind(keyRegister, tracker, settings, saveErrors);
+
+        if (saveErrors.Count == 0)
+        {
+            return saveErrors;
+        }
+
+        // Back to what was live before this attempt. Its own outcome is not reported: these are
+        // the bindings the tray already had, and there is nothing the person at the dialog could
+        // do about one of them having been taken in the meantime
+        Bind(keyRegister, tracker, previous, []);
+        return saveErrors;
+    }
+
+    static void Bind(KeyRegister keyRegister, Tracker tracker, Settings settings, List<string> saveErrors)
+    {
+        AddHotKey(keyRegister, settings.AcceptAllHotKey, KeyBindingIds.AcceptAll, () => tracker.AcceptAll(), saveErrors);
+        AddHotKey(keyRegister, settings.DiscardAllHotKey, KeyBindingIds.DiscardAll, tracker.Clear, saveErrors);
+        AddHotKey(keyRegister, settings.AcceptOpenHotKey, KeyBindingIds.AcceptOpen, () => tracker.AcceptOpen(), saveErrors);
+    }
+
     static void AddHotKey(KeyRegister keyRegister, HotKey? hotKey, int id, Action action, List<string> saveErrors)
     {
         keyRegister.ClearBinding(id);