I leave mine on all the time but it is that old lube Honda has in all their switches gumming up. I use Radio Shack Contact Cleaner on my other swithches (flashers, fog, start, & brake micro switches) and I've been able to get them all working again. I guess I should spray the Cruise also.
If you want to be able to turn it off then back on I'd give that cleaner a try.
Here is a link to Fred's DIY repair to the switch. The CC switch is a real beotch to get to so most (including me) just leave it on and don't worry about it. You can try the sprays but I doubt it will do much for you. You will see what I mean after you have a look at the what the switch looks like. If you do try the sprays be sure to protect the plastic parts and paint. Some of the sprays are not plastic and or paint friendly.
I had the same problem with my 05. I sprayed several different types of cleaner or lube through the outside of the switch and it did no good. I finally broke down and removed the switch, cleaned and lubed, now it works like new. I used Fred's step by step for fixing a reverse switch and it was a great help. I had a little trouble snapping all the switch parts back together, but after a few attempts I finally got it (Wife helped).
If you want to R&R, the handlebar comes of with 2 bolts (Thanks Waldo) and makes removal of the switch housing much easier.