I'm currently running Lubuntu 14.04, but also noticed this with Lubuntu 13.10, and I'm running the latest version of update-manager (1:0.196.12) .

When I launch the Software Updater (or update-manager from the terminal), it immediately runs the program without asking for a password or withouth presenting any way to set the preferences or configuration options for the program.

How does one set preferences or options for the Software Updater/update-manager? In earlier versions I used to get a gui that when launched asked for a password, then presented a nice application where one could configure the update-manager/Software Updater as well as search for and retrieve the updates, but that doesn't come up anymore.