Dates displayed wrong in timeline view

I must be missing something really obvious but it is eluding me. I see numerous options for formatting date in the timeline view, but they always display in European format (20 January 2000) instead of US format (January 20, 2000) even though my system is set to show dates the US way.

How do i change the format of dates in the timeline to adjust to what my part of the world uses, and why does it default to be different than my system settings, even though other aspects (comma for thousands separator, short date format) get detected correctly?

Unfortunately we currently only adjust the short date format based on system settings, not the long date format, it is something we will look at adding in the future.