There is no default shortcut for "Cycle video streams".
So you have to define that yourself under
(rightclick >) Options > Preferences > Key definitions & WinLIRC
(this separately for 'Windowed mode' and 'Full screen mode').
When doing so, make sure you're not using a key(combination) which is already in use for another BS.Player-function!
I think that switching to the new resp. 'old' OSD mode
during playback of a movie becomes only effective when a new file is started (resp. when the current file is re-started).