I’ve just given that a run through to test and I received an email to the test user’s old address saying:
> This email change was requested by a site admin. If you did not request this change, please contact a site admin.
Which is different than I remember. Not sure if I’m also doing something weird, but I followed the steps above as normal. 
(apart from the ‘save changes’ step, as the page does not have it until you go back)
Nope, the email was going to the new email address and I hadn’t plugged my eyes in properly.