It still doesn't function as it should and it probably never will unfortunately. The reasoning behind it of "Won't somebody think of the noobs?!" is flawed. It functions as intended elsewhere and people get a great laugh out of it yet it doesn't kill off the population.
You missed a few of the points, the reason these boxes are busted are more than what Paddy said. The real issue with them is that you can have a trapped chest in your back pack, UNLOCKED, and it will still pop the trap and kill the person that snoops you, but you are still able to use all the contents of the chest, since its unlocked. The trap should never go off if its unlocked, since the trap is technically only armed when the chest is locked. If you loot a trapped chest from someone, for example, they will be 99.99% unlocked, and it will be safe to open it and loot whatever is inside. People are afraid that they will double click the chest and pop a trap, but thats not possible... If the chest is locked and trapped it will only explode if you axe it, lockpick it or cast magic unlock on it. double clicking a locked chest doesnt kill anyone. If the chest is unlocked on the ground or with you, the trap will be off, and its safe to open.