I've got the same problem... and am running latest NON-BETA S/W (can't run Beta S/W since this is for work and don't want to deal with the issues that are typically found in a beta).
I've noticed something ineteresting tho...
1) Aren't Infrant based in California... GMT - 8hours
2) I believe slselwyn is counting the wrong way... backup does not happen 16 hours ahead... but 8 hours late (ie his backup is happening at 04:05 as he has configured.... CALIFORNIAN TIME... rather than his local timezone time... he's GMT time so 8 hours difference between him and CALI)
3) impag's backup is off 9hours, he's GMT+1... therefore 9hours between him and CALI... hence backup is off 9 hours cuz it once again kicks in at his specified backup time CALI time.
4) Same is true for me....
WORKAROUND until next NON-BETA release is: figure out the difference between your local timezone time and CALI timezone... configure your backup to start with this in mind:
If your in timezone GMT+5, Diff in time between CALI GMT-8 & GMT+5 = 13.... configure your backup to start 13 hours before the ACTUAL time you want it to start
Not sure... but daylights savings might throw the rule off by an hour... deal-with-able until fixed
Hope this makes sense to you guys, it works for me!