Good news, I tested this with KDE 4.2 Beta2 and Okular acted as expected. :)
(If you would like to test before I close this bug you can install KDE 4.2
beta2 following the instructions here:
http://www.kubuntu.org/news/kde-4.2-beta-2)
** Changed in: kdegraphics (Ubuntu)
Status: New => Incomplete
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Page down doesn't work correctly in facing pages view mode
https://bugs.launchpad.net/bugs/306658
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