Converting to DWG - Remapping CSV - Color Mapping Table - setting DWGOutputColor "bylevel" has no effect

I need to convert several hundred drawings from DGN to DWG.  I've been creating a remapping CSV to help with the conversion process.  Many of the elements in the DGN files have colors that don't match the level that they are drawn on.  The instructions in the CSV file say:

If the keyword “%bylevel” appears in the V8OutputColor or DwgOutputColor column, then every element that has the color indicated is changed to be ByLevel

This doesn't seem to work when converting to DWG.  If I set the DWGOutputColor to "%bylevel" none of the colors are changed.  If I set this to a value, 50ac for example, then it works fine.

To clarify, in the remapping csv this changes everything in the DWG to color 50:


While this doesn't do anything: