Tried it myself, I can confirm the bug.
For testing, make a black-white linear gradient.
Select the magic wand tool, set selection mode to replace, set the tolerance to 50%, then click on a completely black area. Part of the gradient will be selected. Finalize the selection.
Now, set the selection mode to subtract, set tolerance to 0%, then once again, click on the completely black area. Everything will be deselected.
Without finalizing the selection, increase tolerance above 50%. Additional areas outside of the original selection will be selected, but nothing in the original selection itself.
Edit: seems like the behavior of the subtract mode magic wand is the opposite of what it's supposed to do. Instead of dropping everything that is selected from the previous selection, it will keep everything that is selected but wasn't selected before.
Edit 2: Even weirder: Before using the magic wand for the second time, use the ellipse selection tool in subtract mode, then switch back to the magic wand. It will work as intended.