Last modified: 2013-12-03 23:18:07 UTC
Take a look at the URL.
When you see the output page, the list has three items. If you edit it in the source editor, you'll see that there's an extra empty item in the end of the list. If you edit it in the VisualEditor, you'll see it rendered.
The VisualEditor behavior actually makes more sense to me. Gabriel Wicke suggested on IRC to open this issue at the PHP parser.
*** Bug 52374 has been marked as a duplicate of this bug. ***