Can't call named operations on lp.me

The team createPPA() does not appear to add a ppa to the user:

ppa_name = "lp123456"
team = launchpad.me
results = team.createPPA(
    name=ppa_name,
    displayname=ppa_name,
    description=ppa_name)
team.lp_save()
print "-- saved --"

ppa = team.getPPAByName(name=ppa_name)
print "Created PPA %s for %s" %(ppa.name, team.name)

results in:

-- saved --
Traceback (most recent call last):
  File "./create-ppa.py", line 16, in <module>
    ppa = team.getPPAByName(name=ppa_name)
  File "/usr/lib/python2.7/dist-packages/lazr/restfulclient/resource.py", line 558, in __call__
    url, in_representation, http_method, extra_headers=extra_headers)
  File "/usr/lib/python2.7/dist-packages/lazr/restfulclient/_browser.py", line 281, in _request
    raise error
lazr.restfulclient.errors.NotFound: HTTP Error 404: Not Found
Response headers:
---
-content-encoding: gzip
content-length: 24
content-type: text/plain
date: Sat, 10 Sep 2011 03:05:27 GMT
server: zope.server.http (HTTP)
status: 404
vary: Accept,Accept-Encoding
via: 1.1 api.launchpad.net
x-lazr-notifications: []
x-powered-by: Zope (www.zope.org), Python (www.python.org)
---
Response body:
---
No such ppa: 'lp123456'.
---

Confirmed no ppa shows up via the web interface either.
Guessing it should work, since it's documented as available on the launchpadapi page?