1) This is a bug. I created issue in jira for it https://issues.jboss.org/browse/JBIDE-8822. Thanks you pointed us to it.
2) The problem is using connection profile is not mandatory for generating schema.sql. You can use "Hibernate Code Generation Configuration" for example with Console Configuration. And Console configuration could be configured in a different ways. But you can leave feature request for your way of generation schema.sql.