I've seen the same, it seems it only works as expected if you skip the start/stop date and do daily, with exclusions as before.
I guess you could just use two schedulers and two policies, one which does the opposite on the specific days.
help reference schedulers exclude says this:
Use the exclude statement to exclude a day from a daily schedule created
with the daily statement. You cannot use the exclude statement for a
particular day unless it is in conjunction with the daily statement in a
schedule.