This problem is related to a user being password-less(as set in "Users and Groups"). On a newly installed 10.04 system I had to disable password-less mode to get Seahorse to be able to connect to the gnome-keyring-daemon.
@Michal: "gnome-keyring-daemon --start --components=pkcs11" is the default for 10.04 so I think this is not related to an upgrade.
This problem is related to a user being password-less(as set in "Users and Groups"). On a newly installed 10.04 system I had to disable password-less mode to get Seahorse to be able to connect to the gnome-keyring- daemon.
@Michal: "gnome- keyring- daemon --start --components= pkcs11" is the default for 10.04 so I think this is not related to an upgrade.