How does password sharing work?

I created a password (actually, a VictorOps URL) and set it to be editable by admins only, but shared with (usable by) all contact groups.

However, it doesn’t seem to work: When a non-admin tries to edit a notification rule which currently uses that password, they can’t – instead, they get the message that the “Element ‘VictorOps’ doesn’t exist anymore”.

It seems I’m doing something wrong – what would be the correct way to set this up? (this is with cre 1.6.0p5)