This shortcut is no longer available in SQL Server Management Studio 2012. In this version you need to use Ctrl+Shift+Alt+R to show/hide query results pane. Another alternative shortcuts you can use to show or hide results pane is Alt+WS and Alt+WI respectively. I find the later to be more easy to use.
If you have gotten used to using old shortcut Ctrl+R you can customize shortcuts in SQL Server Management Studio.
To change keyboard shortcut for show/hide results pane:
Step 1: Go to Tools > Options in SQL Server Management Studio:
Step 2: Navigate to Environment > Keyboard > Keyboard
And chose (Default) in 'Apply the following additional keyboard mapping scheme'
Step 3: Search for Window.ShowResultsPane using Show commands containing: textbox.
Step 4:
(1) Select Ctrl+Shift+Alt+R (SQL Query Editor) in Shortcuts for selected command: list.
(2) Select SQL Query Editor in Use new shortcut in: list.
(3) Go to Press shortcut keys: textbox and press Ctrl+R or any other shortcut you need.
(4) Click on Assign .
(5) Click on OK to apply changes.
Step 5: You need to restart SQL Server Management Studio to apply these changes.
Note: The Window menu will still show Ctrl+Shift+Alt+R as shortcut we have only added an additional shortcut, we have not removed existing shortcut.
Hope This Helps!
Vishal