The alt+space shortcut opens a context menu for the focused window with various window manager actions (the same one which results in right clicking the title bar).
This shortcut however does not work for windows that don't let the WM decorate them. Examples of such windows are full-screen games (especially those in Wine; native ones usually disallow any kind of WM integration). The Chromium browser also has the option to disable WM decorations (and it looks much better that way).
The ctrl+space shortcut should work for all windows managed by the WM. This is especially important for full-screen windows, because there may not be another way to e.g. minimize the window other than exiting the program (there is no titlebar, and, it may not be possible to reach the taskbar by switching windows with alt+tab in case there is no other window).
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