Verbose logging can help you isolate a number of problems with Profile Manager. Turn on verbose logging by writing a debugOutput key with a value of 3 into /Library/Preferences/com.apple.ProfileManager.plist using the defaults command:
defaults write /Library/Preferences/com.apple.ProfileManager debugOutput 3
Once set, restart the daemon using killall:
killall -u _devicemgr
To disable, just write the key with a blank value:
defaults delete /Library/Preferences/com.apple.ProfileManager debugOutput
Then restart the daemon again:
killall -u _devicemgr