You are correct in that it's not functioning, however I do not have that option under the "online and adobe online" section in Adobe Customization Wizard XI. I have the following boxes that can be checked:
"Disable initiating shared reviews and data collection via distributed forms using Adobe online services (does not affect non Adobe online services reviews and forms).
"Disable the Tools pane in Reader"
"Disable file storage on Adobe online services"
"Enable file storage even when all other services are disabled"