Selection rules do not work for single on/off boolean fields

UPDATE 2: Nope, I'm just crazy. Closing this.

UPDATE: This is happening on Panels 3.5, Ctools 1.9, and the related bug is not actually related (as the patch does not solve the problem). I have the exact same scenario as the original poster and it is still not working.

I've managed to reproduce this on two different Drupal installs, my site on Pantheon and a fresh copy of Drupal 7.19 installed via Acquia Dev Desktop.

I'm using Panels 3.3 and Ctools 1.2.

Steps to reproduce:
1. Add a single on/off checkbox to the user profile.
2. Create a panel node with two variants. For the first variant, add a selection rule that tests whether the user field added in #1 evaluates to true (check the box).
3. Save the panel and then open the selection rule to edit it again. The checkbox will not be checked.

I also tried using the reverse(NOT) option, but this does not evaluate properly, either (the value will always evaluate as NOT regardless of whether the checkbox is on or off).