Reminder

I created test calendar event for Feb 26 showing "2/26/2012" as time and checked "All Day" checkbox. I added "5 mins before" reminder. I received reminder email Feb 26 at 7:55am showing "Date On: Monday, 27, February 2012 (America/Atikokan) "

Questions:

1. Why email came at 7:55am on Feb 26 and not, say, 11:55pm on Feb 25?
2. Why reminder email shows date on as "Monday, 27, February 2012"?

Thanks!