Version:           2.3.2 (using KDE 4.3.1)
Installed from:    Ubuntu Packages

This bug is also reported at: https://bugs.launchpad.net/ubuntu/+source/kdebase/+bug/447079  There you can find further  information about the system, pkgs etc.

With latest KDE 3.4.2 if one manages to save the 'Manage Profiles...' settings (see https://bugs.launchpad.net/ubuntu/+source/kdebase/+bug/447065) konsole writes the complete path to the profiles into konsolerc. E.g.

[Favorite Profiles]
 Favorites=/home/allee/.kde/share/apps/konsole/root shell.profile,/home/allee/.kde/share/apps/konsole/root @ where-ever.profile,/home/allee/.kde/share/apps/konsole/secure remote.profile,/home/allee/.kde/share/apps/konsole/Shell.profile
 ...
 [Profile Shortcuts]
 Ctrl+(=/home/allee/.kde/share/apps/konsole/root @ where-ever.profile
 Ctrl+)=/home/allee/.kde/share/apps/konsole/root shell.profile
 Ctrl+*=/home/allee/.kde/share/apps/konsole/secure remote.profile

As profile are stored in apps/konsole/ that's not necessary and counterproductive:
 Using complete path one runs in trouble when username changes,
 or one sents ones profiles to other people.

Exactly for this problem type KDE3 introduced special methods in KConfig (AFAIR)
 to strip $HOME (and maybe(?) other well known places like appdata?)

Please strip the complete directory path or at least $HOME or $KDEDIR.

Achim