cookiesandclogs: Could you post a copy of the exact code you are using so that it could be ‘debugged’.
I am having the same problem. If it helps I found that excerpt does work with this call: [catlist post_type=encyclopedia, numberposts=6, orderby=date, order=desc, excerpt=yes]
But does not work with this call: [catlist name=volunteer-opportunities, numberposts=12, orderby=date, order=desc, excerpt=yes]
So the bug does not occur when selecting by post_type, but does occur when selecting by name.
As above, thanks for the hard work and a good reliable plugin I use all the time.