Once the valet button is pressed the only way that I have figured out to access the trunk is to put the black-key in the trunk and and turn clockwise - nothing else seems to turn it off once the valet button is pressed

 

I can't answer, I have not used the valet mode... but if you don't have one, you should download the owner's manual - answers to all your questions, so far, are there.

 

I read the valet mode section in the manual 3 times, cannot understand it for the life of me... About 20 different variations (if you do/don't press valet button, black/green key, remote-fob, etc.)

 

The only way to turn it off is to turn the car off completely and recycle the key with the master.

 

FWIW that does not work on my 99.

I seem to be stuck in perpetual valet mode too. I think I hit the button by accident when I went to turn on the seat heater. It's been that way now for 7 months or so. I only use the black key. I don't use the remote fobs at all.

 

On my 99xk8 I can cancel the valet mode by using the master key (Black). You can also open the trunk using the remote. But using the valet key (Green) will not cancel the valet option it will remain until the master key (Black) is used. I hope this helps!

 

I had this problem when I bought my car. See if your trunk light works. There is a bundle of wires going through the right boot hinge, They are covered by a plastic shield. The boot light wire and the brake light wires go through there and they will cause your car to be stuck in valet mode. Don't ask me the specific reason, but the security system will have a problem. It happened to me. It's a not uncommon problem.

 

Both trunk lights work fine but one lens is missing so perhaps someone was messing about in there (previous owner?)

Restarting car with black key does not turn off valet mode, only thing that seems to is to use the black key to open the trunk