Edited value in Time format does not fit with what is edited

Edited value in Time format does not fit with what is edited

Hi, i faced with the issue on wrong editing of "Time format" columns:

1. import data from google doc both Date and Time columns as plain text.
2. set Date type  = dd MMM yyyy HH:mm:ss
3. For column that contains Time > Apply "Format Column" to HH:mm a
4. Change any value in cell : from 3:15 pm to 3:16 pm >> but>> 1:40 am is shown instead
http://i.imgur.com/ImcrhE1.png
 
Chrome browser at Desktop.

It looks like issue happens with custom Time format when Date format to "view" differs from Date format to "store".
Workaround: show Time in general Date format and skip "fake" date in calculations.
  
I will great appreciate for the help.