Please do the following steps...
1. Download the bluetooth driver - 'Bluetooth_Broadcom_126.96.36.19900_VistaX86', its the one for vista but works for win7. After the drivers installed sucessfully the bluetooth still didn't work as the bluetooth hardware wasn't turned on, pressing the bluetooth button to the left of the keyboard didn't do anything for me.
The driver is available from the Acer website below under the Vista section, just click through the categories notebook/model/OS/drivers etc until you reach it.http://global-download.acer.com/GDHome.aspx?SC=PA_6&LC=en
2. Next download Dritek Launch Manager - 'LaunMgr_Dritek_188.8.131.52_VistaX86' (this utility controls the assignment of shortcuts/applications to the other buttons on the keyboard) from the Acer website above, it'll be under the applications tab instead of drivers.
For some reason the Launch manager zip also includes another zip of the drivers for the Nvidia Video Card, I can't see why they're bundled together but it is Acer after all.
After the launch manager had installed the dedicated bluetooth button worked just fine first press, but bizzarely this application doesn't allow you to assign the bluetooth button, just the other 4 buttons above the keyboard.
But it clearly fixed my issue so it must have installed something which brought the bluetooth button back to life.
BTW the Launch Manager doesn't even have to be running for the bluetooth button to work.
Hope this fixes your issue.