Spreadsheet formatting textwrap not working

See the following code:

spreadsheetObj = SpreadsheetNew('Metrics',false);

SpreadSheetSetColumnWidth(spreadsheetObj, 3, 10);

SpreadSheetAddRow(spreadsheetObj,'Merchant ID,Merchant Name,Return Customer#chr(13)##chr(10)#Conversion Rate');

SpreadSheetSetRowHeight(spreadsheetObj, 1, 50);

SpreadsheetFormatCell(spreadsheetObj, {textwrap=true}, 1, 3);

SpreadsheetFormatRow(spreadsheetObj, {textwrap=1}, 1);

Even using both Cell and Row formatting I can not get the text to wrap. This is what the resulting file looks like:

If I click on C1 and click the "Wrap Text" option in Excel, it formats correctly.. so the line breaks are there. This is CF10 by the way and I believe we run CF11 in production which I think I read solves this problem. Just wondering if anyone else has seen this or documented a fix. I've also tried XLSX and XLS.