admin password is not set on instance create

Using the latest Essex master build on XenServer:

Admin password is not currently set on instance create.

If I log into the instance (via file injection) the agent log has no reference of the password command being executed:

2011-12-05 22:07:11,400 [INFO] Agent started
2011-12-05 22:07:11,404 [INFO] Received command 'version' with argument: ''
2011-12-05 22:07:11,404 [INFO] 'version' completed with code '0', message '0.0.1.31'
2011-12-05 22:07:12,406 [INFO] Received command 'features' with argument: ''
2011-12-05 22:07:12,406 [INFO] 'features' completed with code '0', message 'kmsactivate,resetnetwork,version,keyinit,features,agentupdate,password,injectfile'
2011-12-05 22:07:16,410 [INFO] Received command 'injectfile' with argument: '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'
2011-12-05 22:07:16,431 [INFO] 'injectfile' completed with code '0', message ''
2011-12-05 22:07:19,434 [INFO] Received command 'resetnetwork' with argument: ''
2011-12-05 22:07:19,457 [INFO] writing /etc/network/interfaces
2011-12-05 22:07:19,457 [INFO] writing /etc/hosts
2011-12-05 22:07:19,458 [INFO] writing /etc/hostname
2011-12-05 22:07:19,458 [INFO] skipping /etc/resolv.conf (no changes)
2011-12-05 22:07:19,557 [INFO] 'resetnetwork' completed with code '0', message ''