Liveupdate proxy settings no longer accessible after upgrade to 10.7.4, which prevents administrators from removing or changing the proxy configuration.
SMG 10.7.4
The ability to configure a proxy for liveupdate was removed from the product in version 10.7.4.
If a liveupdate proxy configuration existed prior to upgrade, it was not removed from the config file.
Upgrading to version 10.7.5 will remove any existing proxy configuration settings from the liveupdate config.