Deep Cut II doesn't work with Blood Barbs

The bleeding magnitude is noticeably less (because of 30% less hit) when I put Deep Cut II on Fireball on my Blood Mage with Blood Barbs taken.
The magnitude should be 40% greater (0.7 * 2) but it seems like it's just 30% less.

I've found some reports on this since 0.1. So, please put it on the list if anyone sees this.

This seems to still be a problem now. Tooltip DPS of bleed goes down and it also seems like the in-game bleed dps is lower with Deep Cuts 2.

Thanks so much Jatin! Hope this and the Rathpith issue i posted elsewhere get solved soon, was really looking forward to playing spell bleed!