Lately we've had some requests to add password protection to our mnemonics, and we are ready this weekend to start rolling it out in our next firmware update.
Why do you need a password on mnemonics? Normally the mnemonic list itself can be put in a secure location, but for an extra layer of protection (and at BitLox we are ALL about extra layers of security) you'll be able to enter a free-form password to accompany your mnemonic. This password is "salted" into the generation of your seed with the mnemonic, so it is not even stored on your BitLox. So write down your mnemonic or engrave it in stone, as long as you remember your self-chosen mnemonic specific pass phrase you are completely secure.