iMovie '11 9.0.4 - manual fade-in times for titles don't work right

I have some titles. The fade-ins and outs are a little too fast for my taste. So I select the title, press "I" to open the Inspector, click Manual and set the time to 1 second. Instead of a 1-second fade-in and -out I get a fade-in for the entire first half of the title duration followed by a fade-out for the rest.

For example: Suppose I have an 8-second title. I manually set the fade-in/out time to 1 second. It fades in for 4 seconds then fades out for 4 seconds. Even if I set the time for 0:15, the default, it still fades in for 4 seconds and out for 4 seconds. It works right only when I choose the project setting radio button.

I tried this with some footage taken with the Mac's camera, and put it in a 30 fps project. So it's not a frame-mismatch problem.

Please help. Thanks! AEF