Dynamic Field not working as documented.

My end goal is to create a dynamic field consisting of the MonthYear extracted from a user entered date.
First, the date that is returned by simply grabbing the field from allowable field substitutions returns Wednesday, December 31, 1969; regardless of the date the user actually enters.

So, I tried the example straight from the "example" on http://drupal.org/project/dynamicfield

Even the example taken verbatim blows up. See attached screen shot.