Required Thing displays "Some HTML", even if a default is set

(Bug, Closed -> Fixed, Priority: Critical, Test Status: No automated tests yet , Reported By Bad Link: Thing 3y285jl not found, )
Editor
Summary: Basically, Required Thing is clearly broken. This one is high-priority to look into.
The precise recipe, as found by Anna (which does repro easily), which could undoubtedly by minimized further:
Define a Model "Type Choices". Give it four instances. (Garou, Fera, Mage, Changeling.) Set up a Choice Order for those.
Create another Model, "Character". Create a Property "Type", Required Thing, point it to "Type Choices", and set the default to Garou.
When you look at Type on-page, it shows up as "Some HTML".
What's going on here? It's unsurprising that you would see "Some HTML" if there was no default, but it should show correctly in this case.
As mentioned in comments, this is actually an Editor issue: the value appears to be set initially, but isn't. Fixing this so that "Nothing selected" shows initially, until you put a real value there, and then it goes away.