It's just a regular no physics game, and the collisions boxes are all set to bounding box.
I even made a separate file to check if I had messes something up in the original file I'm working on. But it seems that the problem is in fact not my fault (I think)...
I also added some debug text to demonstrate the problem. I also tried all the wave types, and they all have the same issue. This only happens with the vertical movement.
dl.dropbox.com/u/20613220/Test_VerticalSine.capx
1- While the platform is moving downward the player flickers and falls intermittently (always)
2- While it's going up and you fall on it, you can go through it (9 of 10 times)