Yeah, Beeps, I'm one of those that doesn't seem to be affected by selection weirdness. I don't know why, really, but I plan to keep it that way.
Gerberbaby, when performing this operation you do have the Smartool (F5) active, correct? It almost sounds like you have one of the other tools active instead.
And just to confirm, when I do this - which I've done many, many times - I drag+select underneath the envelope to set my time range, then regardless of what I visually see (because I really never pay much attention) I simply position the cursor above the envelope until it changes and drag up or down. I don't use any modifier keys.