I can duplicate this. I created another test EPUB with this code:
Sigil's Book View search works fine on <p> + <div> + <blockquote> + <ul>/<ol>/<li>.
The search seems to break when:
- The thing you are searching for is at the very end of a line
- It is in <dt>/<dd> OR it hits a <br />
The search seems to work perfectly normal if you are searching for something like the "o" in today.