I've reached out to @ on twitter and - after the mandatory Did-you-try-this-link - I got the following responses
Got that. We truly appreciate your efforts in resolving the issue. To ensure that we understand it correctly, you were able to apply the correct setting, however after a day, the location shows default is that correct? Upon checking, this is a known issue and our engineers and developer are currently looking into it. We apologize for the incovenience this has caused you
And:
Thanks for the update. Please know that our engineers are still collecting helpful data to have this corrected the soonest. Kindly provide us your Family safety app version, and the devices that you use as well. Rest assured that an update will be released the soonest. Thank you for your patience.