Symptoms
The options to Save a Workflow as a Template or select that the workflow can be reused are greyed out in the K2 for SharePoint Designer. I need to use certain workflows again and do not want to have to recreate it each time.
Diagnoses
This is expected behavior as the connection between workflow and SharePoint list makes it very hard to make the workflow reusable.
Resolution
A feature request was logged to allow these workflows to be used as templates.