I have this manual setting configured in my configuration profile, but it doesn't seem to have any effect. The setting shows up in the preference domain for com.apple.screensaver in the "managed client" section of System Information, but it does not ask for password after wake from sleep, nor does the preference appear to be set in "Security and Privacy." Any suggestions?
But the password is supposed to apply to wake from sleep AND return from screensaver. Mine doesn't work on either one. And as I said, the preference doesn't appear to be set in system preferences.
Config profiles are a nightmare. You will mostly find a lot of things not working (external removable media can't be set as read only)
I think you have stumbled upon another.
You need to either script it or use mcxToprofile to get the job done.