Search selected text & IDE search & F3 problem (possibly bug)

I have "Use F3/Shift-F3 to search selected text" and "Let IDE remember..." enabled. Latest SVN trunk.

I select word "foo" and press F3.
Then Ctrl-F and search other word "bar", F3 loops thru all the "bar"-s as it should.
Leave the IDE search field and focus the editor.
Press F3.
I expect search to loop thru "bar"-s but it loops thru "foo"-s again.
Moreover, there's no "foo" in the IDE search combo.

So, do the things really should be as described? And what's the sense of "Let IDE remember..." option then?