I have tested it with several more photo replacements and it has not worked with any of them. The old EXIF remains in every case.
It would seem to me you need two photos with EXIF to test this out, so I am posting links to two of them (I would attach them, but I don't have anything close to <100kb as required here). Upload one to add the initial EXIF for the photoid, then replace with the other one to change to the new EXIF (which isn't happening for me).
http://www.nationalparked.com/galler...ng_Fork_02.jpg http://www.nationalparked.com/galler...e_River_01.jpg