The parental control function on my Verizon MI424WR Router does not work

I created few rules on the Parental Control section of my MI424WR Router admin page but it still allows internet access.

Does this router completely shut down the internet access, lets say if I set it 10pm-12am Disable connection? I read someone's comment on another post, MI424WR is actually cuts down the bandwidth into 1/2, but not completely shut down the connection. Is this true? If so this is useless....