RE: davidh,
If you have a multimeter, you can place a lead on each of the switch legs and do a continuity test. The switch should read open in its normal position. Close the switch with your finger or some other object and your meter should beep or give you a resistance value. If the switch is always "on" or always "off" it would indicate that it is no good. In my experience, it is more likely to be the diode on the switch that is bad or a loose connection. The VUK is banged around quite a bit, I would trace those words and make sure you don't have any broken solder points.
Hope that helps,
Mike