Comment # 46 on bug 1010880 from Wolfgang Bauer

(In reply to Stefan Dirsch from comment #45)
> Hmm. Isn't KBD_NUMLOCK now completely ignored?

No.

kbdsettings does this:
for i in NUM SCR CAPS; do
    conf=$(eval echo KBD_${i}LOCK)
    [ -z ${!conf} ] && continue
...

I.e. it reads the values of KBD_NUMLOCK, KBD_SCRLOCK and KBD_CAPSLOCK and acts
upon each (unless it's empty).