MF Looking for Template in Parent Theme, Not Child Theme

I am creating a custom template for a custom post type I created using MF. I also use a theme framework along with a child theme. The framework automatically looks in the child theme directory for custom templates, however, for this template, unless I place it in the parent theme directory I get an error when accessing posts using this template/post type combo.

Although I have it working, shouldn’t my custom post types work the same as any other post type that I use a custom template with? Just concerned that my changes could be overwritten on parent theme updates.

http://wordpress.org/extend/plugins/magic-fields-2/