Hash operators within Index/Match

Intermediate-Advanced user on (Office 365 - Windows 11). My workbook is mostly developed in Excel desktop, and the live co-authored workbook is hosted on SharePoint.

I have an issue running hash-operators within an INDEX/MATCH formula. The resulting value does not align with the formula evaluation conclusion.

As a hypothetical example about what's happening: Col A contains a spilled array listing unique identifiers, Col B and Col C contain spilled arrays of data, and Col D contains an Index/Match formula. The formula is rooted in Cell D2, and spills down equal with the other columns (preceding it with [ =IF(B2#="","", ] forces it to spill). The formula finds the value of Col A based on the always-unique permutations resulting from searching B2# and C2# together.

In this example:

D2 should find A6,

D3 should find A5, and

D4 should find A7.

However, all results mirror the first answer. I.e. D2, D3, and D4, all point to A6.

There are no formula errors, and the formula evaluator shows everything working properly. For example, evaluation of D3 (even though it is spilled) shows that it processes perfectly, beginning to end. D3 evaluation concludes by correctly identifying the A5 value. However, the output on the sheet shows the A6 value, directly conflicting with the formula evaluator.

Any insights would be greatly appreciated.