Hi Gordon,
I just came across this bug as well -- interface slider with fractions
and restricted enabled gets messed up with two indicators and both
indicators are not at the end points. I was able to fix it by editing
the Slider.modifyContainer method in islider.js. I moved the
"if(elm.dragCfg.fractions) {" block above the "if
(elm.SliderContainer.slideCfg.restricted ) {" block. So far, I don't
see any side effects of doing this. It seems to make everything work
perfectly... at least for me. I just submitted this as a bug to the
jQuery team: http://dev.jquery.com/ticket/1306