Does the Indigo theme break the "New" badge?

I’ve been using Indigo as long as I’ve been using Open edX. I recently tried to set the “Course Is New” to true for a course under Advanced Settings, and it seems to not actually show any sort of badge on the front page listing of all the courses. But the problem is I’ve never run without Indigo to know that it works without it.

I’ve tried this on Lilac and on Palm, but the result is the same on both, that there’s no difference. Is this something Indigo’s breaking, or has just Open edX been broken forever and no one noticed because no one uses this feature?

This is not Indigo theme issue because theme is only being used for styling. If you’re facing in Lilac and Palm as well, then there might be something which have been missed here.