I was originally going to call this the "Idiots Guide to Setting up WSE 2 Test Certificates" cose I felt like an idiot by the time I had figured my way through it all, thanks Martin for your help:-)
If you are certificate guru then this is drop dead obvious but if you're not then you can spend a lot of time setting up the test certificates that come with WSE2. I searched the web and found plenty of others who had got stuck on similar issues so hopefully this will help you get started with WSE and Web Services Security.
I've posted the detailed steps at http://blogs.msdn.com/dglover/articles/434621.aspx
There are some great WSE2 Hands on lab you can download from http://msdn.microsoft.com/webservices/building/wse, and just when you thought it was safe to try WSE 2 then the WSE 3 technical preview comes along so take your pick:-)
I will post the WSE 2 Security code samples I present on the MS India Securty Summit in the next few days...