You got it! The crazy thing is the effect it has on the QB position as it pertains to pass rush with the pocket collapsing, how long the QB will hold on to the ball or take off. If you lower the QB's Awareness rating, the pocket collapses a whole lot quicker. It's like the DL/OL engage each other quicker, like the animations play out faster for a lack of a better way to describe it. It's awesome when playing in Spectator Mode because it's more organic and QB's still get there numbers. You see errant throws, the QB scrambling around and taking off etc. and sacks all without having to make slider adjustments. The downside of course is if you Sim...if you Sim games the QB stats are horrible. So, I wouldn't recommend lowering QB Awareness globally unless you are prepared to watch all the games lol.
But, what you said was absolutely correct. The higher the Awareness of the player, the more consistently the player plays up to his position specific ratings. The lower the Awareness, the more inconsistent he is. When you think about it, it's actually a great way to differentiate great players from mediocre. I no longer adjust my Depth Charts based on Overalls but based on Awareness. I also put more emphasis on Awareness when it comes to recruiting. All things being equal, if I have to make a choice between two players, I'll choose the one with better awareness over the guy with better speed. Keep this important factor in mind though...AWARENESS doesn't matter when the user is controlling the player. It's all about stick skill. That's why I play Coach/Spectator Mode.