Please see the video to see a recreation of the problem. Basically when the levels adjustment layer is turned off, the bleed area exports as expected; when the levels adjustment layer is turned on, the bleed area only exports as white. It's very strange.
https://www.loom.com/share/2b59fa0e08cb4d6385d8624d5dac858a
I've attached the file but I've noticed it happening in other files too.
cc_business-card.afdesign
Using the latest beta: 1.7.0.9