There appears to be an error in this version of the Wiki Variables page:
Keyboard Maestro has four types of variables, distinguished based on their name.
Password Variables — names start or end with “Password” or “PW”.
Local Variables — names start or end with “Local ” or “𝕃”.
Instance Variables — names start or end with “Instance ” or “𝕀”.
Variables — All other variables.
I believe this is incorrect:
names start or end with “Local ”
I tried testing it, and the Variable appeared in Preferences, but, there may be a bug there:
I'm running Keyboard Maestro 8.0.1 (8.0.1) on macOS 10.11.6.