Argh. Features are great except when you actually try to use them. :(

Thanks to these:
#1084690: Exported Panelizer configuration using Features is not recreated on target site.
#1298150: Separate the panelizer_defaults variable
The exported Panelizer config for the panels_edition node doesn't actually get rebuilt when you install this on a new site. Those were both resolved in Panelizer 7.x-2.x, but never backported to 6.x-1.x.

Not sure if it's better to:

A) Fix panelizer (I'm a co-maintainer, and Earl said I can pretty much do any backporting/fixing to the 6.x-1.x branch I want).

B) Try to force this config via hook_install() in here.

C) Abandon the 6.x version of this and try again in D7. ;) I've hacked around this for now on the site I actually care about, so I'm not sure it's worth pouring any more effort into the 6.x version up here on d.o...