To answer my own question, it looks like the Security and Directory Services module is included with the Developer's version. I am basing this off the file located at
$SYBASE/SYSAM-2_0/licenses/SYBASE_ASE_DE.lic
This file includes the text ASE_ASM, which is the security module (SyBooks Online )
However the documentation says that ASE_ASM is obsolete and replaced with ASE_SECDIR, which is NOT in my license file.
If I cant figure out my Kerberos issue, I will start another topic as it appears that the answer to my question is yes.