"co -d ." broken for non-local repository

[Scott McDermott]

I tried asking this before but did not get a single reply.

If I have the repository mounted and refer to its local fs location for
the cvs root, I can check out a module into the cwd using "co -d .
module"

However when I use :ext: method instead of local fs I get the nonsense
error:

   cvs server: existing repository /path/to/repo does not match 
/path/to/repo/CVSROOT
   cvs server: ignoring module module

Can someone tell me if this is a bug or not?  If it is I will attempt to
fix it.  If I'm making a bad assumption or using it wrong I would like
to know.  Any information is appreciated because this behavior makes no
sense to me.  Thanks.