KeySequences / Typed Words broken

After either an osx update (big sur 11.2) or a BTT (3.553) update all my KeySequences / Typed Words no longer work in any application.

Any ideas please?

Maybe secure input is enabled (does BTT show a warning when clicking its menubar icon?)

Have you already tried to restart your Mac?

It says Secure Input Activated: loginwindow ... but this is stuck even when I switch apps.

In that case you have (most likely) run into a macOS bug. Usually a restart fixes this.
There is some security software that also results in this behavior but that is usually only used in enterprise setups

I also had this exact same thing on my M1 Mac after updating to 11.2. It went away after I restarted my Mac.

Seems to be a new bug somewhere because I rebooted and it went away - then I launched terminal and this issue came back and stayed regardless of which app I use.