I've just installed AAM and it's exactly what I need. I'm making a sub-admin that can't get to plugins and theme options but can manage posts, comments, users etc.
I've only 2 users, SuperAdmin and Editor1. I've given E1 plenty of access but when I log in as E1, it doesn't have access to anything beyond the default set of permissions - i.e. can't even change their own profile let alone posts.
I've checked and the Editor role has been given these perms in AAM and made sure E1 is actually an Editor.
I have only a few plugins and one theme installed. The only one I can think that might be affecting anything is Bulletproof Security but that's just a guess. Any suggestions?