Custom Post Settings Not Pulling GEORSS Elements from Atom Feed

I can not get FWP to pull a GEORSS element from a atom feed and set a Custom Post Field…

My incoming atom feed looks like this:

33.831032 -117.893439

FWP should allow me to set “Custom Post Settings” which sets “Custom fields can be used to add extra metadata to a post that you can use in themes.”
Syndication -> Post & Links -> Custom Post Settings

My key/value looks like this:
Key: wpgeorsspt
Value: $(georss:point)

But the field never gets created or filled in my posts.

Is this because FWP does not support GEORSS elements?