The key data isn't updating on the high level view, but is refreshed and accurate in the dialog that pops up when drilling in; double clicking on the owner or user key shows that the only station currently keyed by that key is Pelatus.

The new key layout shows:

[[Station]] -- [Itan] Managed Key for Conquerable Stations (id:2616)
* Pelatus Mining Station: Can Dock, IFF
* Bractus IX Planetary Outpost: Can Dock, IFF
* CONQUERABLE STATION: Can Dock, IFF
[[Station]] -- [Itan] Managed Key for Conquerable Stations (id: 2616/2617)
* Pelatus Mining Station: Can Dock, IFF
* Bractus IX Planetary Outpost: Can Dock, IFF
* CONQUERABLE STATION: Can Dock, IFF

Clicking on the owner key shows the following in the multiline detail box:

Access rights:
Pelatus Mining Station
Can Dock
IFF
Bractus IX Planetary Outpost
Can Dock
IFF
CONQUERABLE STATION
Can Dock
IFF

what am i missing here?

looks like both of your lists show the same access data for all stations

Yep. But I didn't have the keys, Wash had taken the stations.

clicking down INTO the key and opening the dialog box popup, shows the actual keys I had...

The point I'm making is that the Keychain inventory screen doesn't always reflect reality. You have to drill into the key to see the actual key status.