Redmine

The "Date" option when creating a new version for projects is confusing myself and a few of my work colleagues.. Basically I'm not entirely sure if I've found a bug, or if we're simply misunderstanding something with the project flow.

For clarity, my environment is as follows:

Environment:
  Redmine version                2.4.1.stable
  Ruby version                   1.9.3-p231 (2012-05-25) [i386-mingw32]
  Rails version                  3.2.16
  Environment                    production
  Database adapter               Mysql2
SCM:
  Subversion                     1.8.4
  Git                            1.8.3
  Filesystem                     
Redmine plugins:
  newissuealertlist              0.0.1
  nortech_plugin_salt            0.0.1
  progressive_projects_list      0.4.0
  redmine_ckeditor               1.0.16
  redmine_default_assign         0.4
  redmine_knowledgebase          3.0.2
  redmine_lightbox               0.0.1
  redmine_newissuealerts         0.0.2
  redmine_people                 0.1.6
  redmine_wiki_backlinks         0.0.2

The Versions note on the Project Settings page states:

• Date: The due date for the version to be completed. This field is optional.

This part makes perfect sense, but how this works in the long run with versions once they're closed is a bit fuzzy. I've configured our system to use a top-level project to control department access (Hardware R&D, Software R&D), with second-level projects for groups of development projects, each of which contain a third-level project for a specific hardware or software product.

• Department
  • Project Group 1
    • Project 1.1
    • Project 1.2
  • Project Group 2
    • Project 1.1
    • Project 1.2

From the software side at least, we don't work on a fixed release cycle at the moment (we want to, but there are other workflow issues we need to change first), so I update the date field and close the version when we actually do a release. However, without any newer versions created in the same project, this leaves the Project Overview page showing a red "x days late" message in the Progress block.

Surely a closed version with a past date should not cause the UI to show the project as being late though? I would consider "Closed" to be closed, done, finished, no longer applicable, etc.. So, is this a UI bug or simply a feature that we're using incorrectly...?