I tried to open the Cockpit in different browsers,
in Server:
Directly in server i opened the admin page in IE, i am able to delete the security profile(Delete Button is active).
at server side, in IE it is still grayed out.
in Chrome:
Its working fine without having any problem, is this same in your case also?
I just restarted the system and opened admin cockpit in chrome at my machine(not the same machine where SMP is installed), now i can see DELETE button as enabled. strange..