I added a boolean variable to a sprite.
I tried to set its initial value to 'true', but when I click OK, it sets it to '<varies>'.
I also tried to set it to '1', but it sets it back to 'false'.
Is it a bug?
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Closing as not a bug, this is by design to indicate different instances of the object have different initial values set for an instance variable.
In future please refer to how to report bugs including information like step-by-step how to reproduce the issue from a new project.