Version:           1.1 (using KDE 3.2.0, compiled sources)
Compiler:          gcc version 3.2.3
OS:          Linux (i686) release 2.4.22

it is not possible to go to any kpanel icon using keyboard (not shortcuts). 

How to produce expected behavior:

1. open home folder
2. using tab and arrow keys you can navigate the selection over files and folder
3. by pressing enter/return key you can execute it or
4. by pressing the Menu/Properties key you can see the properties

this thing is not possible with kicker, 

1. you can't move selection over kicker application icons (to run or goto properties)
2. you can't move on-to different applets using keyboard (not shortcuts)