1. You need external controller for reproduce.
2. Connect for example "volume" to "mod wheel", it must be on external controller
3. Make automation from "volume"
4. Create/add/play some notes in this instrument from you get "volume" (just for listen what you automate).
5. Check "set/clear record" on automation track.
6. Record automation.
7. Disable recording on automation track, just repeat 5.
8. Play track.
9. This recorded automation is completly ignored, just doesn't work.
10. Wait, it works, only if you disconnect "volume" from "mod wheel".

Copied and pasted from discord discussion. Behaviour discovered even in 0.4.15, so that means it's a very old one. But why it is something wrong?

Because you need do many things for get listening your track with all automations, in heavy automated tracks (like 20+) connect and disconnect all many times is very, very irritating.