The emacs configuration I am currently using. Hope this helps others.
To bind eshell to W-a, add the following lines to rc.xml, in the section:
<keyboard>
[...]
<keybind key="W-a">
<action name="Execute">
<startupnotify>
<enabled>true</enabled>
<name>Open Terminal</name>
</startupnotify>
<command>emacsclient -c -e '(eshell t)'</command>
</action>
</keybind>
[...]
</keyboard>
To bind multi-term to W-a, add the following lines to rc.xml, in the section:
<keyboard>
[...]
<keybind key="W-a">
<action name="Execute">
<startupnotify>
<enabled>true</enabled>
<name>Open Terminal</name>
</startupnotify>
<command>emacsclient -c -e '(multi-term)'</command>
</action>
</keybind>
[...]
</keyboard>