I have always wondered why parachuting feels so dumb and spongy and you can't look around. Now this makes sense.

When parachuting, you can look around. I believe those keys are mapped to the number pad on the right of 105 key keyboard. Some keyboards omit the keypad to the right of the keyboard, as they're not typically used except for accounting purposes or repeated number entry tasks such as databasing tasks.

I also have Track IR, and can easily look around without using the number pad to the right of the keyboard. Also, the Enter key on the number pad toggles the point of view from first person point of view to third person point of view. I personally believe in using third person point of view routinely as you have to realize we're really just looking through a one foot by one to two foot window, and sometimes much less. Really difficult to squeeze an entire simulated virtual reality within such a small window, and using third person point of view tends to provide much more information as well as lacking the sensation of gravity. Third person can feel like cheating, until your realize the fore mentioned.

If you have one of the smaller keyboards, I'd suggest investing in Track IR as neither I use the number pad much except for routine usage of the number pad enter key. And remap the number pad key (if it isn't by default already) to another key such as the Enter key?

While this is certainly a workaround (as is looking around and quickly looking back), the issue is still unaffected as instead of pressing Alt and using the mouse, players would have to additionally map the keypad or go through the financial effort of getting TrackIR which is certainly recommended but it shouldn't be a necessity.

As for the keypad, it holds my equipment keys and I would have to bind separate keys for looking around. This is not an appropriate option to me, especially when I use the mouse for looking around in every other circumstance from being infantry to being a tank commander to sitting in a helicopter.