Whilst testing MDL-38378 I cherry picked version version 2.3.4+ (Build: 20130228) (2012062504.10) to test the changes I made within '/lib/db/update.php' as the script has the condition:

if ($oldversion < 2012062504.11 && $oldversion >= 2012062504.08) {

So I thought a test value of 2012062504.10 would satisfy this criteria. However, the value after the decimal point appears to be truncated to 2012062504.1. And Moodle reports:

Upgrading Moodle database from version 2.3.4+ (Build: 20130228) (2012062504.1) to 2.3.4+ (Build: 20130307) (2012062504.12)

Note the disparity between the build date and reported Moodle version when compared with the original version.php file. Thus causing confusion on the part of the administrator / developer when using the value.