Hi Vivek,
I just tested it and it seems to be working fine. Let me know what OS and browser combination you are using and I will rule that out as an issue as well.
Some notes:
1. You set the permissions on a per project basis, so a simple user can have all permissions on one project and not for another. Make sure you are looking at the correct project that you changed the permissions on.
2. Make sure that you clear your cache. There may be a caching issue here.
Thanks! Let me know if that doesn't work and also get me the OS and browser combo for further testing.
Thanks!
Troy