org-capture: active timestamp in template doesn't seem to work

[Markus Heller <hellerm2@gmail.com>]

Hello all,

the following 2 templates yield identical results, although the second 
should give date + time according to my understanding.

(setq org-capture-templates
       '(("m" "Meeting" entry (file "h:/org/refile.org")
	 "* Subject: %^{Subject} \t\t\t:MEETING:\n :PROPERTIES:\n :Created: 
%U\n :END:\n When: %^{When}T\n%?"
;; the above template has %^T which should give date + time
;; but it only yields the date
	 :clock-in t :clock-resume t)
	("n" "Meeting" entry (file "h:/org/refile.org")
	 "* Subject: %^{Subject} \t\t\t:MEETING:\n :PROPERTIES:\n :Created: 
%U\n :END:\n When: %^{When}t\n%?"
	 :clock-in t :clock-resume t)))

Any idea as to why?  Or is this a bug?

Thanks
Markus