If a parent UX control has a Local Storage Namespace such as "NS1" and there are child Embedded Object UX control with a unique namespace "NS2" how/where is the data stored? I just answered my own question. If the listLocalStorage object is added to the parent then when "Show Keys > Keys for this app only" then only the parent keys are displayed and when "Show Keys > All keys" is selected you will find the children keys only after navigating through "ALL" keys and the list may be long.

Just in case someone may be interested.