Hello all,

I am wanting to have a key hover in mid-air and maybe even rotate in circles at it's location. For Items that can be picked up is there a way to tell Havok to ignore a specific item?

Thanks,
Doing

No.

You need two objects, one that is static with collision (the floating key) and a normak key that is added to the players inventory when the static key is activated. You then disable the static key.
You can easily put a script on the key to spin it, and to control when the player activates it.