For whatever reason, osx does not give users key repeat control.
I mean, it sort of works, but it's extremely limited and a real PITA to work with. I want it fast, but it's just not possible to get the same feel as on linux.
And be careful editing it via the UI - it'll update and then lock you out of restoring the "under-the-hood" cli hack to get it to a fast speed, and you'll have to login/out again.