[MegaBlues]

The contents of the treasure is usually a medium to large potion and a 9+ rarity item (I've always gotten the Main Class stat boost torsos), so they're most likely working properly, even if it's a bit underwhelming. But yes, The experience the chest is giving is of a level 1 chest, so I was thinking that they were bugged into not generating properly.

They're also very easy to detrap and lockpick.