The reason is that the SLAPPASSWD shell variable is expanded before sed sees it. So sed sees:
sed -i "s@{pass}@Pwd&0011@" config_3_setConfigPW.ldif
When an "&" is on the right hand side of a pattern it means "copy the matched input", and in your case the matched input is "{pass}".
The real problem is that you would have to escape all the special characters that might arise in SLAPPASSWD, to prevent sed doing this. For example, if you had character "@" in the password, sed would think it was the end of the substitute command, and give a syntax error.
Because of this, I wouldn't use sed for this. You could try gawk or perl?
eg, this will print out the modified file in awk (though it still assumes that SLAPPASSWD contains no " character
awk -F \{pass\} ' { print $1"'${SLAPPASSWD}'"$2 } ' config_3_setConfigPW.ldif