'Advanced' Public post types not working

I'm using the latest version of CustomPress, and if I create a post type and choose "Advanced" for the "Public" setting, then even if "Publicly Queryable" is ticked, that post cannot be "Public".

I'm trying to make a post type that is public but is hidden from search, there doesn't seem to be any way to do this. Is it a bug?

Regards
Shaun