I use Nothing Manacles in PvE all the time, tracking works without problems. But in PvP often it doesn't seem to work for me.
I throw a Scatter next to a player and the projectiles don't seem to track him. When I throw a Scatter next to an enemy in PvE, same distance to the enemy, the projectiles go crazy and fly towards it.
Edit: I'm not talking about bouncing Scatters, that's not an issue I have.
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I use em on my voidwalker but am looking to switch to skip grenades with the other exotic arms. The scatter nades are too inconsistent. Nothing beats a Nova bomb multi kill though. I love wiping full Fireteams at their heavy spawn.