To answer some of the responses, I have replaced the batteries and do not have the keypad locked out. The static issue was due to the squelch, thanks letarotor! Unfortunately, the keypad issue isn't really resolving. It seems I'm getting phantom key presses, most frequently from the function key, which is most likely why the squelch issue occurred in the first place. I've gone ahead and reseated everything that I could without breaking anything, and the buttons seems to be functioning a lot better at the moment, atleast.
I was using this while flagging at a race track this weekend (Road America!) and got caught out by rain, so if anything that's probably the culprit and I should have mentioned that. Sorry I didn't fully include all the variables in my original post, and thank you all for your help!