Got my problem figured out. Battery was low, very low. Plugged it in for a while. After it charged a bit, the lock screen operated correctly.
Since I'm not much for changing something that works well, I'll not be setting the lock screen on this Nook again.
Thank you for any consideration to my problem, though.
Nook Color, cyanogen7/Phiremod ROM
Sent from my ASUS Transformer Pad TF300T using xda app-developers app