It looks like yours is .emacsvalid, but may be in the wrong place.
To check where it should be executed .emacs:
M-x getenv RET Home RET
Which should show something like: (windows xp)
C:\Documents and Settings\YourName\Application Data\
(or windows7)
C:\Users\YourName\Application Data\
If this is the same place as .emacs, add a debug message to the end of your file .emacs. eg.
(message " >------------< This is the one >------------< ")
And restart Emacs and look at the buffer *messages*.
If it shows a debug message, key binding should be available, check it with C-h k F5
Let us know the results of these tests.