Midnight fails in LS, 12:01AM works

I have an LS adaption to the calendar, and am getting a very strange result. If the meeting is scheduled for midnight exactly, then the StartDateTime field does not compute correctly - it produces date only, with no time component. 12:01 AM (and any other time) works fine. I found in debug that the StartDateTime field, even though it is NotesDateTime, only gives me date in StartDateTime.ZoneTime.

Is this a known bug? It is happening in all versions.