Skill points has to do with how many you have when the game is saved. Check the other threads for more info. The option itself works fine, it's the game that is checking to make sure you don't have a cetain amount or it resets. Probably a leftover from the multiplayer part of the game.
I never get the skill point from option 5. The available skill points never increase even when I have up to 2 skill points unused. I try it right after I level up but it never work. I don't have any save game trouble though. May be it has something to do with the Engineer/Hunter class?