The BIOSETTINGS files RACENAME term only looks at the RACE: term. If the new way of building Races with Sub races (i.e. Human (Awesome)) is used, there is no way to define separate parameters for the subraces.
As a suggestion, perhaps grab the code that builds the race line on the character sheet as that is assembled correctly.
Possible issue is that BIOSETTINGS need to be recalculated after selecting the sub-race (using the new style sub-race-as-an-ability method)