If I remember right (and I could be wrong) encryption didn't work properly on the Rezound. Try it without just to test.
Also here's an "older" thread on getting wifi tether to work(with a fix patch)
[MOD][07.14.12][Hotspot AP mode fix - LIVE on android-wifi-tether site][GB/ICS] - xda-developers
Also here's an "older" thread on getting wifi tether to work(with a fix patch)
[MOD][07.14.12][Hotspot AP mode fix - LIVE on android-wifi-tether site][GB/ICS] - xda-developers