Fury Valve + Ricochet interaction

It seems that when a projectile Splits due to Fury Valve and then hits Ricochet's 30% chance to Chain off terrain, the projectile is unable to hit the target it Chains to. I'm playing Lightning Arrow, and I often see arrows behaving oddly in this situation. If I shoot an arrow into a wall and it chains to a nearby enemy before Splitting, it will function correctly.