What I expected to happen was...
To see the repeater with the first tick of delay displayed on the block.

What actually happened was...
The repeater displayed that it was on 4 ticks of delay.

Steps to Reproduce:
1. Go into Minecraft 14w27b
2. Place down a repeater
3. The repeaters looks like it has 4 ticks of delay but it really only has one.
4. Right click on the repeater to make the repeater to display that its on a lower tick.
5. Repeat