TinyMCE: Special characters defined in 'entities' not converted to named HTML entities

I found this closed issue that seemed to address the problem I'm seeing: http://drupal.org/node/373542 Comment #11

However, when I made the relevant change by adding additional entities to my wysiwyg/editors/tinymce.inc file, the characters still did not get saved with the proper encoding:

function wysiwyg_tinymce_settings($editor, $config, $theme) {
  $settings = array(
    'button_tile_map' => TRUE, // @todo Add a setting for this.
    'document_base_url' => base_path(),
    'mode' => 'none',
    'plugins' => array(),
    'theme' => $theme,
    'width' => '100%',
    // Strict loading mode must be enabled; otherwise TinyMCE would use
    // document.write() in IE and Chrome.
    'strict_loading_mode' => TRUE,
    // TinyMCE's URL conversion magic breaks Drupal modules that use a special
    // syntax for paths. This makes 'relative_urls' obsolete.
    'convert_urls' => FALSE,
    // The default entity_encoding ('named') converts too many characters in
    // languages (like Greek). Since Drupal supports Unicode, we only convert
    // HTML control characters and invisible characters. TinyMCE always converts
    // XML default characters '&', '<', '>'.
    'entities' => '160,nbsp,161,iexcl,162,cent,163,pound,164,curren,165,yen,166,brvbar,167,sect,
168,uml,169,copy,170,ordf,171,laquo,172,not,173,shy,174,reg,175,macr,
176,deg,177,plusmn,178,sup2,179,sup3,180,acute,181,micro,182,para,
183,middot,184,cedil,185,sup1,186,ordm,187,raquo,188,frac14,189,frac12,
190,frac34,191,iquest,192,Agrave,193,Aacute,194,Acirc,195,Atilde,196,Auml,
197,Aring,198,AElig,199,Ccedil,200,Egrave,201,Eacute,202,Ecirc,203,Euml,
204,Igrave,205,Iacute,206,Icirc,207,Iuml,208,ETH,209,Ntilde,210,Ograve,
211,Oacute,212,Ocirc,213,Otilde,214,Ouml,215,times,216,Oslash,217,Ugrave,
218,Uacute,219,Ucirc,220,Uuml,221,Yacute,222,THORN,223,szlig,224,agrave,
225,aacute,226,acirc,227,atilde,228,auml,229,aring,230,aelig,231,ccedil,
232,egrave,233,eacute,234,ecirc,235,euml,236,igrave,237,iacute,238,icirc,
239,iuml,240,eth,241,ntilde,242,ograve,243,oacute,244,ocirc,245,otilde,
246,ouml,247,divide,248,oslash,249,ugrave,250,uacute,251,ucirc,252,uuml,
253,yacute,254,thorn,255,yuml,402,fnof,913,Alpha,914,Beta,915,Gamma,
916,Delta,917,Epsilon,918,Zeta,919,Eta,920,Theta,921,Iota,922,Kappa,
923,Lambda,924,Mu,925,Nu,926,Xi,927,Omicron,928,Pi,929,Rho,931,Sigma,
932,Tau,933,Upsilon,934,Phi,935,Chi,936,Psi,937,Omega,945,alpha,946,beta,
947,gamma,948,delta,949,epsilon,950,zeta,951,eta,952,theta,953,iota,
954,kappa,955,lambda,956,mu,957,nu,958,xi,959,omicron,960,pi,961,rho,
962,sigmaf,963,sigma,964,tau,965,upsilon,966,phi,967,chi,968,psi,969,omega,
977,thetasym,978,upsih,982,piv,8226,bull,8230,hellip,8242,prime,8243,Prime,
8254,oline,8260,frasl,8472,weierp,8465,image,8476,real,8482,trade,
8501,alefsym,8592,larr,8593,uarr,8594,rarr,8595,darr,8596,harr,8629,crarr,
8656,lArr,8657,uArr,8658,rArr,8659,dArr,8660,hArr,8704,forall,8706,part,
8707,exist,8709,empty,8711,nabla,8712,isin,8713,notin,8715,ni,8719,prod,
8721,sum,8722,minus,8727,lowast,8730,radic,8733,prop,8734,infin,8736,ang,
8743,and,8744,or,8745,cap,8746,cup,8747,int,8756,there4,8764,sim,8773,cong,
8776,asymp,8800,ne,8801,equiv,8804,le,8805,ge,8834,sub,8835,sup,8836,nsub,
8838,sube,8839,supe,8853,oplus,8855,otimes,8869,perp,8901,sdot,8968,lceil,
8969,rceil,8970,lfloor,8971,rfloor,9001,lang,9002,rang,9674,loz,9824,spades,
9827,clubs,9829,hearts,9830,diams,338,OElig,339,oelig,352,Scaron,353,scaron,
376,Yuml,710,circ,732,tilde,8194,ensp,8195,emsp,8201,thinsp,8204,zwnj,
8205,zwj,8206,lrm,8207,rlm,8211,ndash,8212,mdash,8216,lsquo,8217,rsquo,
8218,sbquo,8220,ldquo,8221,rdquo,8222,bdquo,8224,dagger,8225,Dagger,
8240,permil,8249,lsaquo,8250,rsaquo,8364,euro'
  );

So, for example, I would expect that with the entities named here, someone selecting the euro character by interacting with the TinyMCE character map popup would get a Euro character placed into the wysiwyg field, but on the underlying HTML code, the character would appear as € or €. The underlying HTML still just shows a euro character not encoded.

What am I missing? Why are these entities I added not being payed attention to by TinyMCE?

Much thanks!