Tokenlock enables you to improve the security of your Mac by locking it whenever a device is removed.
If your goal is to improve security there are several things you should be well aware of:
Recommended password settings:
We recommend that you set TokenLock to require a password to both quit the app as well as edit settings.
Use of the "Send password when USB/BT Device returns" setting:
If you enable this setting, token lock will check that the screen saver is actively running. If it is, TokenLock press enter and then send your TokenLock password, and then press enter again. This can essentially stop the screen saver, enter your password and as a result allow you to unlock your machine when your phone, usb device etc are back in range.
This is convenient, but be aware that this means that anyone who gets your phone, or USB device can unlock your computer. In fact if they have a USB device with the same name as yours, or the same type of USB device it will let them automatically unlock your computer.
We enabled this setting by request because we had some users creating AppleScripts to do exactly this, however TokenLock's password is stored in the Keychain making it more secure than an Applescript.