[CentOS] What does this Centos Network Manager error message mean

Here is the error message:
 http://i41.tinypic.com/2zz71bp.png

Wireless Network Authentication Required
Unlock Keyring: The application 'NetworkManager Applet' 
(/usr/bin/nm-applet) wants access to the default keyring, 
but it is locked.

The funny thing is, 
(a) I've never seen this message before (in a year of using CentOS)
(b) I am the system administrator but it won't take the root password
(c) I don't even know 'what' a default keyring is in the first place
(d) This only happened after I changed the SSID of my home network

When I tried to connect to my home network with the new SSID, this
message came up. Funny thing is that I never got past it, since it
seems to want a password that isn't my user password nor my root
password. 

I still connected to the network though. So, it's odd all around.
In fact, it makes no sense to me.

Q1: What password is it looking for anyway? (it's not root or the user)
Q2: Why did it let me connect to the home network 
Note: If you get this, I am on the network even without typing whatever
password that application seems to want.