Well he does have an extensive background in cryptography: http://en.wikipedia.org/wiki/Bruce_Schneier#Cryptographic_al...

But more than that University of Washington and Jacob Applebaum (tor) participated (http://en.wikipedia.org/wiki/Jacob_Appelbaum)

His team created Skein and it was a NIST finalist for SHA3 so he obviously can audit code. He also I believe has a position this year at a university for a few months to work with students and their graduate projects in crypto engineering.

I don't know the answer, but don't forget that Schneier got his initial fame from writing Applied Cryptography.