yeah, you have to install and set up on every account separately. It won’t actually install another .apk from Google Play if found on the device already, it will just link the existing installation to another account and create account-specific settings for it.
So I just tried this and it was as though id never installed AMS. It would open without the security PIN, change ANY settings pre- established with MAIN ACCOUNT installation. Basically, it appears as though this presents the ability for a secondary user to change what should be system wide for all accounts.
Now, ill go ask the question on this very subject in the AntiTheft child board as well, so long as im not reported for posting the same query twice… Im already on probation from following rules and suggestions.