I think this is a bug, what I think is happening is the smarty comparsion isn't taking place due to the date not being a time stamp.
Open userbrowselistings.tpl.php:
find:
Code:
{if $entry.expiration > $smarty.now}
{$smarty.const.LANG_EXPIRED}
{elseif $entry.display == "Y"}
{$smarty.const.LANG_YES}
{else}
{$smarty.const.LANG_NO}
{/if}
Try replacing with this:
Code:
{if $entry.expiration|date_format > $smarty.now|date_format}
{$smarty.const.LANG_EXPIRED}
{elseif $entry.display == "Y"}
{$smarty.const.LANG_YES}
{else}
{$smarty.const.LANG_NO}
{/if}