Events in v1.3.1 How do I set a Recurring Event?

In ES backend Settings > Events there is a field named Recurring Limit, I assume that when creating an Event you will be able to repeat it by Day, Week, Month, or Year. Going to the front end and tried to add an Event, nothing that says Repeat or Recur event. Has recurring event been implemented in the current version?

Or my understanding of Recurring is wrong? Does ES recurring currently limits to by Day only? Like a span of Days? That is too limited in my opinion, what if the event happens every Tuesday of the Week or Month. Or every last Tuesday of the Month. Here's a big challenge event is scheduled to be every Wednesday of the second week each Month from January to June but on March and April, speaker is not available so they moved the event to Friday. if Mark and his team can program that, men you rock!

Please look at my 3rd attachment, if event recurring is this simplistic, then this event app has just an extra feature like Album, Discussion, News, etc. which is not in Jomsocial Event. Don't get me wrong, those are awesome feature for Event. But since it is an Event it should have more feature related to event creation. In my third screen capture, I meant to repeat the Event from Sept 12, 2014 @ 6AM - 7PM to Sept 13, 2014 @ 6AM - 7PM. But if you notice, how the date was formatted. It's like a span of date from Sept 12 at 6:00AM to Sept 13 at 7:00PM. It is not clear that the event is happening every Day from Sept 12 to 13 from 6:00AM to 7:00PM.

What I am asking is the ability to Repeat an Event by Day, Week, Month or Year. I hope I'm making a point here, I remember Mark told the community before that he would not implement an Event app that works like Jomsocial Event but it does, only with a plus.

By the way, I tried to change the Start Time to 6:00AM but it keeps on returning to 2:21 AM.

Thanks,

Jackson