As far as I can remember, I think this bug was fixed upstream (I have a feeling I saw it in the changelog, though I can't find it now).
Please re-open if this is still happening on latest Feisty.
** Changed in: network-manager (Ubuntu)
Status: Needs Info => Fix Released
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Displays repeated keyring dialogs on resume from suspend and login
https://launchpad.net/bugs/31286
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