As a workaround I copied the robocopy version from a 2008R2 install and used it on Server 2012, and while it copies the time stamps ok, it doesn't format any output in the log or cmd prompt. It spits it out in one long string of text which is unreadable.
Can anyone from Microsoft comment? I'm guessing that this is a bug that needs to be fixed. Makes me wonder what other things in the new version are broke that I haven't caught yet.