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I don't see why the author would set the key to "No Action". I find Control to be a great replacement for Caps Lock.

Escape is also a good choice, especially for vim use.

I would have done that, but it is much easier to set it to Control (on OS X there is an option for Control, but not Escape).

Control-[ functions as Escape, in Vim.

If/once you remap Capslock to Control, this should be even easier to hit.