Creating an Event template from an existing template creates a new event instead

If you try to create a new Event Template, you are given the option to use an existing template to start from. The help text for the "From Template" field says this:

"You can select an existing Event Template as the basis for the new template you are creating, or you can create the template from scratch."

However, when you do this and click Continue, you find yourself creating an event from the template you chose, rather than creating a new template based on the template you chose.

This discussion suggests this issue is long-standing.'

http://civicrm.stackexchange.com/questions/2207/cant-create-a-new-event-template-from-an-existing-event-template/12775#12775