Seems this bug as already been addressed and will be fixed in gnome 2.20.1
release of the keyring manager.
http://bugzilla.gnome.org/show_bug.cgi?id=483288
** Changed in: gnome-keyring-manager (Ubuntu)
Status: New => Fix Committed
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gnome keyring manager cannot create permanent keyrings
https://bugs.launchpad.net/bugs/146724
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