I'm playing as a dual-wielder, and I was using two Steel Axes so far.
I noticed that when I have two weapons with the same name, I can create only one hotkey and just press it twice to equip both weapons. For example, I decided to bind the Steel Axes to "1", so that pressing "1" twice brings one axe on each hand, which is great because it's basically a good workaround to the problem of not being allowed to hotkey a weapon to your off-hand.

So, now I decided to buy two Orcish Maces and enchanted them with the same fire enchantment. Haven't changed their names, thinking that keeping the same name would allow me to still bind the two weapons to same the same hotkey.
However, now every time I press "1", my hotkey simply stops working at all, and the maces become unbound. Basically I have to enter the favorites again to bind the weapons to "1" every time I use it, which is obviously awful.

Anyone can help me with this bug? Any workaround? I really don't want to stop playing as a dual-wilder just because it's so hard to simply hotkey a few weapons..

Hate to say it, but I stopped playing two characters because of this hotkey issue.
What I want is:

To play the game without pausing.

The hotkeys would allow this if that bug was fixed.

Same here, had to give up a couple of characters until this is fixed =/

I've played the whole game without hot keys. 240 hours so far. The hotkeys are just borked. I use tab.

They need to do more than fix this bug. There needs to be a way to designate multiple weapons or held items into a single hotkey even if they have different names.

Yep it's a bug and I'm experiencing this too.