Dateformat vs Timeformat off by 1 minute = bug?

When I do this:

<cfset mydate = "01/17/2010 12:00:05 AM">
<cfset newdate = dateadd("h", -7, mydate)>

<cfoutput>
#newdate#
<br />
#dateformat(newdate,"mm/dd/yyyy hh:mm:ss")#
<br />
#DateFormat(newdate, "mm/dd/yyyy")# #TimeFormat(newdate, "hh:mm:ss tt")#
</cfoutput>

I get this:

{ts '2010-01-16 17:00:05'}
01/16/2010 05:01:05
01/16/2010 05:00:05 PM

If I use this

<cfset newdate = CreateDateTime(2010,1,17,0,0,5)>

I get the same results.

When I read the docs, I see this for dateformat