Version: (using KDE KDE 3.5.5) This report is based on: https://bugs.kde.org/show_bug.cgi?id=72816 When you click on the systray icon, the popup menu appears. When you click it again, it should hide the menu.
This is more general than only kwalletmanager but applies to any application using KSystemTrayIcon.
this seems to work just fine in plasma, and if it didn't, it would actually be a kdelibs and/or individual app bug anyways