Forgot about this thread that I started!
I do have an iPhone 6, but I can't find anywhere in the Settings to turn on the Barometric Altimeter.
However, more troubling to me than the elevation data, are the discrepancies in riding time and distance between Cyclemeter and my cycling computer. Particularly the riding time. My cycle computer is set to turn off when my bike is not moving. However, my riding time is always higher on my cycle computer than the Cyclemeter app. On a long ride, the discrepancies can by 10 minutes or more.