No, it is not ignoring your formula. Your formula is not in either date format or in string format. It is both. So, it is converting formula results into string and based on ASCII value of the string it is sorting.
For example :
for date 09/10/2013 ASCII value would be (it is example value) 200,515
so,
09/10/2013 --200515
10/10/2013 -- 200615
11/10/2013 -- 200715 so, on..
Heare the value of date starts from first digit onwards and your sort is based on ASCII value not on real date.