So my investigation has uncovered something else interesting. I'm still running 7378 right now and bandwidth limiter is working for multiple devices. However, I discovered something else interesting. If I visit the Adaptive QoS page at all (the first one where it shows Bandwidth Monitor and each device's utilization), all bandwidth limiter rules will immediately stop working. To get them working again, I have to go to the QoS tab again and hit "Apply" at the bottom under all of the bandwidth limit rules. After hitting apply, the limits start working again.
So right now, to get this thing working you need to be on code level 7378 and NEVER EVER go to the Bandwidth Monitor tab under Adaptive QoS.
I think tomorrow I might mess around some more and see if I can get it to work on the latest firmware version but messing around with the Apply button and the various screens. It is possible that earlier when I tested the latest firmware I had visited the Bandwidth Monitor screen and messed everything up. For now, though, I'm going to leave it because I feel like this firmware is held together by duct tape.