Hi,
That issue was for 4.16.1 I recreated the same issue in 4.16.3. If I open the same file in 4.17.1 everything works well, as I expected.
At this time I do not know if this issue is a problem, since it works in the latest version 4.17.1
Anyway, I uploaded a file for 4.16.3 (see the link below). Nothing fancy, when you push the button M, a level sequence will play. Two cubes are animated by the level sequence.
Download link Dropbox - File Deleted