SF 4.1 Newsletter "Send Test E-mail" always thinks

When inside of the Newsletter (beta) Content in SF 4.1.1339, I tried to change my SMTP settings to use a local SMTP server. Leaving the SMTP Requires Authentication box UNchecked, it still says "When using SMTP authentication it is required to specify the smtp username property." regardless of whether the box is actually checked to use.

Screenshot attached.

Environment Settings:
IIS 7.5
Windows 7 64bit
Happens in both IE8 and IE9.

Hello,

Thank you for contacting Telerik Support and providing us with this feedback. I have just inspected the issue and indeed there's a bug which we fixed. The fix will be included in our next internal release. Once again thank you for reporting this, I have updated your Telerik Points accordingly.

Greetings,
Boyan Barnev
the Telerik team