Setting to ignore "Reset/ Notification Actions" not working correctly

The Global Settings and User Preferences forms have a General, Performance page which allows tweaks to be made to the User Interface to improve performance in certain situations.

One of these options, "Ignore form Refresh/ Notification Actions" was not working as expected.

When ignoring "Notification" actions, forms should not recieve any Notification actions, e.g., If updating an Account's Monitor Category from one Account form, other Account forms displaying the same Account would typically refresh their content to show the change (providing the record was not being edited at the time). Notification actions such as this should be ignored if configured as such but they were not.