Minimize Presentation in Impress doesn't compress pictures

I have been trying out the Minimize Presentation Tool in Impress, and it doesn’t seem to actually compress any of the images. The wizard runs as expected, and predicts a file size reduction, but after the final step, reports that the file size is the same (as in fact is the case).

Is this a known problem?

I have observed this on Impress versions and, running under Windows Vista. I have heard from someone else that there is a similar problem seen on Impress version 4.3.3.x running under Windows 7. (All English language versions)

This may be a similar bug to Bugzilla 43715

Does it still not work? (On Linux, with 5.0.2, it works great)

Please add your experience to the bug report.