Lug Nut/Lock Nut Questions

Gerg

So, I was installing my new (to me - Thanks theiazn!) lock nuts on my Sport Rays and while switching out one from each wheel, I noticed something odd.



What is that white stuff on the odd man out? Has anyone ever seen this before? The nut didn't seem to be any tougher than the others to remove, but even so... if this is loctite on the nut, isn't it pointless to put it on the outside? There's no trace of it on the threads.

I've switched out a few tires in my day, and have never seen this before.

As a secondary question:
Where do you guys store your Lock Nut Key to avoid someone just breaking into your Z, searching for it, and then taking the wheels off with your own tools? Anyone have a magical hiding spot within the Z?