There should be a sping and hardened steel plunger under the grub screws which acts on an indent to hold the cam in the 'open' position for removing the chuck. Could be they need winding in a little to give the springs a bit of pressure. Could also be that someone has had it apart and missed out replacing the springs orthings might be gummed up.
You'll love camlock. As John says above the cams stay closed by friction, no need to lock them shut.