Please don\'t ask how I stumbled upon this but please try the following:
It's not a bug - Excel accepts Feb 29th 1900 as a valid date. It's a historical issue.
Your 60 is being regarded as 'number of days since Jan 1 1900'.
More info:
http://polymathprogrammer.com/2009/10/26/the-leap-year-1900-bug-in-excel/