Comment 1 for bug 1720080

As upstream bug mentions http://dev.mysql.com/doc/refman/5.6/en/replication-features-timezone.html: "By default, master and slave servers assume that they are in the same time zone. If you are replicating between servers in different time zones, the time zone must be set on both master and slave. Otherwise, statements depending on the local time on the master are not replicated properly, such as statements that use the NOW() or FROM_UNIXTIME() functions. Set the time zone in which MySQL server runs by using the --timezone=timezone_name option of the mysqld_safe script or by setting the TZ environment variable. See also Section 17.4.1.15, “Replication and System Functions”. "

Since you use time_zone SYSTEM behavior with RBR is expected (everything is local to slave). However behavior for SBR/MIXED is not expected as, again, mentioned in the upstream bug:

> [29 Jan 2014 17:26] Jon Stephens
>
> The result that the submitter says that he's obtaining in Step 5--the same column showing the same literal value on both master and slave--is exactly the opposite of what we'd expect. If this happens consistently, it's a bug.