[Shadco]

I just finished updating my bb to 4.5, I'm on bes, once done I found that the security option for password was set to enabled and there is a tiny orange lock icon next to that setting

General Settings>Security>Password was set to enabled and there is a tiny orange lock next to the setting.

Is there a way to turn this setting to disabled? there doesn't appear to be a choice in the menu?

[amazinglygraceless]

Not if it set by the IT Policy imposed by your BES.
Was it there prior to doing the upgrade?