I'm reporting a similar problem with version 2.0.8
I've created a series of custom meta values using radio button displays. Typically I set up a simple Yes/No selection where No=0 and Yes=1 with a default value of 0. This kind of control displays correctly on the user page. When I increase the options to three (for example: No=0, Yes=1, and Maybe=2) and set it's default value to 2, the control displays incorrectly. I can change the meta value using the control, and I've verified the value is updating correctly in the User Meta Manager; however, the value doesn't display correctly on the user page. The value displayed is the original default value and not the actual value.
I've also seen this behavior with a number field. I change and save the number through the user profile and find the original (default value) displayed rather than the correct value. Similar results arise from using Select Menus.