Floating geometry on normal baking rendering wrong

Today I tried baking a high poly mesh with floating geometry to a low polygon mesh and I noticed that the bolts which were the floating part were actually pointing towards the object center instead of rendering from “top”(or more like from the face normal). Now I’d like to know is this intended behavior or a bug that’s slipped past?

Also I tested the blend with both 2.46 and 2.47 with different unwraps and the result was the same.

http://machineminded.kasikirja.net/misc/normal_bake_problem.jpg

http://machineminded.kasikirja.net/misc/normal_bake_problem.jpg