Last I checked [last year] Solidworks did not apply the K value to lofted bends as it did w/ the other sheet metal features.
There actually was no real 'K' value applied to a lofted bend, instead the K value was assumed to be on the sketched geometry [or said another way, the sketch was at the K value location in the model/part]. In effect what one had to do was to calculate the actual location of the K plane [plane isn't the right 'word' but you get the idea.. maybe 'Median surface' is a better term?] of the material and draw your sketchs on that plane or in the case of a cone, AT that location .. it takes a bit of simple trig or a sketch on your model to figure out where the K value would be on the model. Doing these steps, makes it work out but then the displayed model is incorrect because the material in the model [as displayed] is offset one direction or the other from the sketch [inside or out]... to make it all work if you want something to 'look' correct, you'd have to create some configs where the displayed part is not the 'flat' part etc..
There is an SPR to get this fixed and make the K values actually work as K values, I've not seen that this has been implimented in 2012 or not.. I've not had to do a cone recently so.. never checked
To be clear this is only a concern w/ Lofted bends, all other sheet metal features work properly w/ K values..
Fwiw
JFG
JerryFlyGuy
The more I know... the more I realize I don't
(Note: The opinions expressed in this post are my own and are not necessarily those of CNCzone and its management)