Filter alch_default_page_capabilities should be used to change the default AO options pages capabilities parameter. The default value is manage_options.
Example
function change_default_page_capabilities() {
return 'edit_alchemy_options';
}
add_filter( 'alch_default_page_capabilities', 'change_default_page_capabilities' );
To modify the page capabilities parameter on a per-page basis use the hook.
