modify-syntax-entry and UTF8?

[Geoffrey Alan Washburn]

As far as I can tell, modify-syntax-entry does not interact properly 
with UTF8 in the CVS snapshot of emacs that I am currently using.  Is 
this the intended behavior and there is some other mechanism I should be 
using?  Specifically I would like to do something like the following

(modify-syntax-entry ?〈 "(〉")
(modify-syntax-entry ?〉 ")〈")

Which is happily accepted but does not correctly interpret matching 
pairs of angle brackets in a buffer.  I searched the documentation but 
could not seem to find information on how "char" parameters to 
modify-syntax-entry relate to Unicode characters.