I've been wrestling with Gnome Keyring during the transition to Gnome 3 on Debian, and Ubuntu 11 (all with Awesome WM).
One interesting snag was the relocation of /usr/lib/gnome-keyring/gnome-keyring-pkcs11.so to /usr/lib/pkcs11/gnome-keyring-pkcs11.so.
root@asee-mm-02:/usr/lib/gnome-keyring# ln -s /usr/lib/pkcs11/gnome-keyring-pkcs11.so ./
I don't like to do these types of workarounds, but a softlink isn't too bad.
I got fed up with gnome keyring sufficiently that I again installed keychain. Perhaps its what's caused this?