You can activate all weapons with F1 by grouping your weapons in the fitting screen.
Otherwise, the same rules for macros/bots (section 6.A.3) apply to programmable devices. The most you can do with it is combine cumbersome combinations of ctrl-alt-shift-x keys into easier-to-reach button presses.
You can NOT combine multiple in-game actions into a single button, have triggers or delays, send pages of text to the chat channels with a single press, etc., all of these are bannable as macro/bot actions.
EVE ships have up to 8 high, 8 mid, 8 low slots, + drones, so in theory you have to use F1-F8, Ctrl-F1 - Ctrl-F8, Alt-F1 - Alt F8, ctrl-shift-E, ctrl-shift-R, total of 26 keys involving ctrl, alt, shift combinations. Then, there’s also overheating of modules, heavily used in PVP, so that’s another 24 ctrl, shift, alt possible keys that you have to use.
However, for practical ship fitting configurations you rarely have more than 9 things to activate in combat, so I group my weapons and otherwise I rearrange my modules into the leftmost 3 slots in the user interface, so they match with a 3x3 grid on my keypad, with “drones attack” and “drones return to bay” also on there. This grid then activates F1-F3, Ctrl-F1 - Ctrl-F3, Alt-F1 - Alt-F3, and drone commands.
Then, I can change the page (and colors to red) on the keypad, and the same buttons now overheat said modules.
But, all of it is one action per key press, all I’m doing is avoiding having to press ctrl, alt, shift, etc.