Magic Weapon Skill - Possible bug

First off, I am unsure as to if the Magic Weapon skill increases damage affects other skills or if is just for use with melee or crossbow/bow attacks.
Because of this, I tested a few aspects with a wand and a javelin.
In both cases the Basic Attack shown on the character info screen increases.
However, when checking the Normal Attach skill, the damage listed does not change.

Furthermore, the tool-tip on Basic Attack states "It does not take into account damage increases from skills and runes." This should include not calculating Magic Weapon. So which is it?

Is this a bug with the skill?
Is this a bug/typo/misinformation in the tool-tip?
Is this a bug in the Normal Attack skill?
Does the Magic Weapon skill affect other skills as a buff, just affects the Normal Attack skill, or only apply to damage dealt via melee/crossbow (ranged physical) attacks?

Sorry for the mouthful, but it had to be elaborated.