MouseOver/Out event raised at unexpected position

The mouseOver and mouseOut events are being raised inside the map rather than at the edge of the map. It appears that the map thinks it is positioned in the top left of the window.

In this example the red square lights on mouseOver and dims with mouseOut. As you move the mouse from left to right through the map the square dims before the edge of the map. This also happens when moving top to bottom. If the map is offset further from (0, 0) then the region where the mouse isn't over enlarges.

This seems to work fine with other Flex objects, is there something missing from my setup of the Map component?

Here is the test code:
<?xml version="1.0" encoding="utf-8"?>
<mx:application height="800" width="800">

<mx:script>
<![CDATA[
import com.modestmaps.flex.*;
private function onCreationComplete():void
{
indicator.graphics.beginFill(0xFF0000);
indicator.graphics.drawRoundRect(0, 0, indicator.width, indicator.height, 6);
indicator.graphics.endFill();
}

private function onMouseOut():void
{
indicator.alpha = 0.5;
}

private function onMouseOver():void
{
indicator.alpha = 1.0;
}
]>
</mx:script>
<mx:canvas height="700" width="800">
</mx:canvas><modest:map height="500" width="500">

</modest:map><mx:text>
<mx:canvas height="50" width="50">
</mx:canvas>
</mx:text></mx:application>