CiviReports REGEXP incorrectly filters selected values

I have a simple alphanumeric, multiple value custom field setup with the following values (in the format [label = value]):

One = 1
Two = 2
Three = 3
Twenty2 = 22
Fifty2 = 52
Nothing = 12

When filtering Multi-value data through CiviCRM reports, the results are incorrect if, for example searching for "value IS ONE Of 2" which I'd expect to receive all Contacts/Entities who have 2 (NOT anything else) in my results. However, instead I am receiving contacts who have 2, 12 or 52 (but not 22) in my results.

I've reproduced this on the demo site (the report name is Participant Checking List): http://d46.demo.civicrm.org/civicrm/report/instance/38?reset=1 also updated to reproduce on latest demo http://dmaster.demo.civicrm.org/civicrm/report/instance/39

If it helps, I have identified on line 1745 on CRM/Report/Form.php.

          $regexp = "[[:cntrl:]]*" . implode('[[:>:]]*|[[:<:]]*', (array) $value) . "[[:cntrl:]]*";
          $clause = "{$field['dbAlias']} {$operator} REGEXP '{$regexp}'";

For a single value being filtered, I have provided a small fix to this. But it's not suitable for release, our client just needed a workaround. Hopefully, I can come up with something more suitable. But my experience with REGEXP is somewhat lacking.