Well after toying around on the server you showed, I've noticed that it outputs the the +f as "<lines>:<seconds>" where as others (UnrealIRCd) ouputs "[<lines>t]:<seconds>".
I also noticed that UnrealIRCd outputs in the order of +lf, where as the InspIRCd outputs +fl. Thought the parameters correspondes correctly with each mode on each IRcd, I doubt the order makes a difference when mIRC parses it.
Either way, mIRC is using the incorrectly parsing the mode of the channels when received.