"All-Day" Calendar Rules?

Question

I am using my iPhone 5s (iOS 7.1.1) with an Outlook Exchange Server.  When I go to the Calendar App and view the list of daily activities, I noticed some weird rules that the calendar uses which I can't figure out.  Here is what I mean:
If an appointment is all-day, then the list view shows it as all-day.  If the number of hours of the appointment is under 4 hours, it will show it in list view as the time.  For example, it will say, 3:30PM - 5:30PM.  If the appointment is more than 4 hours but during the day, it seems to show the hours but if the appointment is at night, it will show the appintment as "all-day" but then once I click on it to view details, it says the appointment is actually from 4-8PM.  But then on weekends it seems to show hours without doing the all-day thing, unless of course it is an all-day appointment and then it will show it as all-day.
Anyone else noticing this?
Does this related to my workday setting in Outlook?  I currently have my work hours set to 8-5PM.  Any chance someone knows the rules that the cal app follows and can share them?
Appreciate the help!

Answer 1

So just when I beginning to think 10.9.4 "fixed" this, there still seems to be issues. It does seem that the calendar notifications are at least not stepping on each other as much. By that, I mean that sometimes in the past there could be a notification lost by a new notification even though the max number of 10 has not been reached. That "lost" one could be a notification at the bottom of the FIFO stack or, curiously, one in the "middle"  or "top" of the stack. Weird.  Saw the latter twice today.
However, I am always listening to iTunes when I am working on my machine. iTunes is also sending notifications of the next thing it is playing. It seems as if when that new iTunes notification comes about the same time as the next calendar notification, the previous calendar notification is over-written by calendar. A clue? (As I wrote that, calendar just over-wrote a notification even though the max stack of 10 wasn't reached and iTunes hadn't sent a notification - what the heck?)
Still not sure if the "sleep problem" is fixed (when notifications are issued during sleeping, notifications are lost much below the max value of 10 - overall as if it loses how big the FIFO stack is).
When an app acts seemingly randomly, it is very irritating.