Well, I have just tested this with 3.7.3 release of VB, and configured the way you would expect to operate, and using active users only setting on in vb settings, and having one active and one inactive user on my calender, forcing the cron,...
It worked flawlessly.
I will test for a natural instance of proper operation, but will have to wait for a date rollover.
Let you know tomorrow.
But all indications are, the VB 3.7.3 core code upgrade, with the birthday bug I reported to them fixed in this upgrade, corrects the problem that users here were reporting about this modification not working.
Pending further testing,... It works for me perfectly.