Unfortunately microsoft groove doest not provide setting to disable it! Can you believe it?
You have to edit your registry in order to disable it!
Following are the details:
- If you are already running Groove then exit Groove 2007.
- Open registry editor by typing 'regedit' in the run prompt
- Find the registry key for groove at this location: HKEY_CURRENT_USER \SOFTWARE\Microsoft\Office\12.0\Groove
- Now check for the key 'InstaGroove'. Don't worry if it isn't there, just create it. For creating it, point to New on the Edit menu, click Key, and then enter the name as 'InstaGroove'. Once it is created, select it
- Add a new DWORD Value with name as 'DisableHotkey' and set its value data as '1' without the quotes.
- Exit the registry
Read the post and steps to generate by microsoft here