I think that the reason it appears that you can’t unblock the page may be because of the change in 2.9.8 that changes the post meta for blocking. In order to make the process of migrating to a new post meta key low impact, the old post meta are recognized.
So, from a practical application standpoint in plain English, I think you probably had the page blocked in a version earlier, then applied the update. I can see where that may be confusing. What you need to do is get rid of the old “block” and/or “unblock” post meta values. You can do that by editing the custom fields for the page. (If your post edit view does not have custom fields viewable, look to the upper right hand corner of the screen for Screen Options, open that menu and check off “Custom Fields”.) Look for Custom Fields called “block” or “unblock” and delete them.
As for the User Profile page, I am assuming here that we are talking about a page that contains the shortcode [wp-members page=user-profile]. If not, that’s what we should be talking about because that’s what you need to manage the password reset (among other things). Once you have a page with this shortcode in the content area, you can set the location of the page in the plugin’s options. That setting is what creates the forgot password link.
Regarding blocking this page, you can’t actually block this page; and if you do, the plugin will ignore that. The page handles what content it delivers and the processes it manages based solely on the user and the user’s login state.
If a user is not logged in, this page allows a user to log in or register. It also handles password reset in this case.
For a logged in user, the page handles updating of profile information and changing your password.