Notification frequency for "other updates" in Update manager is not obeyed

In Update manager with this following settings:

Automatically check for updates: “Daily"
When there are security updates: “Display immediately”
When there are other updates: “Display weekly”

I expect the system to check for updates every day, notify me (the user) immediately if there are security updates available, but only on a weekly basis if there are other types of updates available. However, the current behaviour is to notify the user immediately for "other updates". At least this is true for updates provided from PPAs. I still need to confirm the behaviour for non-security updates from the standard Ubuntu repositories though. Anyhow, this is quite annoying, as I get update notices pretty much ever day now, and the only way I can see to avoid that would be to increase "Automatically check for updates" to "weekly" which I really don't want to do.

This is on Ubuntu 12.04.

ProblemType: Bug
DistroRelease: Ubuntu 12.04
Package: update-manager 1:0.156.14.11
ProcVersionSignature: Ubuntu 3.2.0-37.58-generic 3.2.35
Uname: Linux 3.2.0-37-generic x86_64
ApportVersion: 2.0.1-0ubuntu17.1
Architecture: amd64
Date: Tue Feb 12 13:44:30 2013
InstallationMedia: Ubuntu 10.04 LTS "Lucid Lynx" - Release amd64 (20100429)
MarkForUpload: True
PackageArchitecture: all
ProcEnviron:
 TERM=xterm
 PATH=(custom, no user)
 LANG=en_US.utf8
 SHELL=/bin/bash
SourcePackage: update-manager
UpgradeStatus: Upgraded to precise on 2012-04-14 (304 days ago)