Semantic Panels not overriding field template

Using Panelizer / Fences / Semantic Panels:

I can override the wrapper element of body field on a panelized node, however any changes made to the content element do not get applied. It still uses the <div class="field-body"> element supplied by Fences. Only changing the element on the body field settings page through Manage Fields > Body > Edit actually has an effect.

This is also the case for date fields on an Event content type. It doesn't effect any fieldable panel panes, custom content or any other type of pane that I am aware of.