Computed properties are not re-calculating when dependent oneWay CP updates

Lets say I have a oneWay CP which is initially bound to a model property (and is hence free to diverge if updated)

The CP can be set to values fixed & dynamic. I have some equal CPs which in turn rely on this oneWayCp changing

oneWayCp: oneWay('model.field')
isFixed: equal('oneWayCp', 'fixed').volatile().readOnly(),
isDynamic: equal('oneWayCp', 'dynamic').volatile().readOnly(),

I'm seeing a weird bug wherein isFixed & isDynamic don't update when oneWayCp is updated

Is this expected behavior ?