Just so you know, I can verify that you're not doing anything wrong. It just doesn't seem to work for all entities. It's not limited to private use entities, I don't think. I tried it with the hex entities for the standard unicode dingbat symbols, and the same thing happened (converted to characters upon re-opening). I haven't looked at the code behind it yet, but it seems as if something in the opening vetting/well-formed checks might be bypassing the Preserve Entities logic somehow.
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