Any ideas what is happening here?

[David Kastrup]

My use case is something different entirely and it does not work as
expected.  This may or may not be a relevant minimal example for my use
case (no idea) but is weird enough to suggest something's off.

{
  \repeat volta 2
  {
    c'1
    \volta 1 \set Timing.baseMoment = #(ly:make-moment 1/4)
    e'1
  }
}

-- 
David Kastrup