I have preferences enabled to "Lock on sleep" and "Lock when screen saver is activated" — 1Password is not locking as set per these preferences. This appears to be very reproducible on my Mac.
Version 6.5.BETA-22 (650022)
MacOS 10.12.1 Beta (16B2338c)
1Password Version: Version 6.5.BETA-22 (650022)
Extension Version: Not Provided
OS Version: MacOS 10.12.1 Beta (16B2338c)
Sync Type: Primary vault with Dropbox sync