There should not be any problem in the recent releases, since these commands were moved into a separate submenu. I just tried it right now, in fact, I actually needed it, and it worked just fine. I was able to go back and get a version that I had saved a couple of hours ago.
Are you clicking the Restore button?
Personally, I think the UI for this is kind of confusing, but I have no control over that. Panorama calls an Apple API to start the process, then Panorama loses complete control over the computer until you press Done (which is really cancel) or Restore.