ID 543941 - Set Position tool not altering meshes as expected

Problem summary
Set Position tool not altering meshes as expected.
 
Customer reported version
Modo 16.1v5
 
Customer reported platform
Windows 11
 
Steps to reproduce
1) Download the attached file and open it in Modo

2) Enable one of the Selection tools such as Edge Selection and select the edge loop on the uneven, open side of the model.

3) In the Model toolbar, select the corresponding tab to the type of Selection, such as the Edge tab.
 
4) Press the "Set Position..." button.
 
5) In the popup menu, select an Axis such as X and press OK to observe the results.
 
Expected behavior
The Set Position tool should alter the mesh based on the selected Axis.

 
Actual behavior
The Set Position tool does not alter the mesh based on the selected Axis.

 
Workaround
Enabling World Position on the "Set Position..." popup menu may work for some models. Alternatively, copying and pasting affected meshes into empty mesh layers may also work for some models.
 
Reproduced by Support in:
Modo 16.1v6 - Windows 11, macOS 11.7 Big Sur
Modo 15.0v1 - Windows 11, macOS 11.7 Big Sur
 
Earliest version tested
Modo 15.0v1 - This issue appears to be in all tested versions of the product.