To recreate this 'bug', follow these steps...
Start out on a fresh day
Get 200 rep and cap out
Put out a 50 point bounty
Behaviour: Your rep for the day is 150 and frozen there until the clock resets.
Expected behaviour: you should be able to collect another 50 rep points because you're at 150 for the day.
Desired behaviour: you can recover the 50 points and then put out another bounty. Repeat until your bounty count is maxed.
Ideal behaviour: All rep forfeit once the cap it hit goes into a bucket from which bounties can be opened.
Note: it is part of the 'ethos' on travel.stackexchange.com for high-rep users to open bounties on unanswered questions posted by those who 'cannot afford' to open bounties. It's fun. Join us in June for the 5th anniversary "Bounty Bonanza".