What should happen is it prompts you about it being locked and asks you if you want to run elevated.
You say yes and it relaunches itself (after a UAC prompt) and displays another message box telling you that the settings are read only but would you like to unlock them. If you say yes to this one as well it then resets the registry key which controls locking, it not it opens the UI in greyed out mode. From the description it sounds like you have been saying no to the second one, or the UAC relaunch doesn't work for some reason.
The key that controls locked state is stored in the local machine registry hive under Software\Stardock\Remote\Remote.ini\RemoteAudio
