child visible property toggles from true to false without re-render

In my test project: https://github.com/MichaelRando/preact-rollup-bootstrap pressing button 'Test Dialog' displays a test dialog, by virtue of setting the state variable to true and the Dialog's visible property is set to said state. Clicking off or closing the dialog is expected to hide the dialog's view. When using react & react-dom, the dialog appears and disappears as many times as the user could want, successfully. When using preact & preact-compat, the dialog appears successfully, but closing / setting the visible state false has no effect. The Dialog component is not re-rendering as React compatibility would expect. This is a super basic test; not sure why this is happening.