I think it's a bug, but it will probably be designated a missing feature by others, so hence the title
If you render a parameter set with the volumetric light option, then switch of that light (which sometimes creates a much nicer volumetric light effect) and then save the m3i (or m3p) file, you will not be able to reproduce the results if you open the m3i file and rerender. In fact the results are totally unpredictable. Try rendering the below parameter set:
Mandelbulb3Dv18{
g.....S....O/...w....2...............1.......s1E................................
........................................kz1........Y./..................y.2...wD
...Uz6....k/..../M.0/...........O.....E3.....omEQgisq6rD/..........m/dkpXm1....U
z.....kD12../..........wz.................................U0.....y1...sD...../..
.z1...sDYsAIxzzzjz1..........WAbUdisqcljRRxgCKosEwnYRydIKa5uzwPN9SaPRGyDFHQlSHA1
Iw1iNMIOip7tzqF/G0ZZtVyDU.....YZ..............sD.6....sD.6G.....................
.............oAnAt1...sD....zw1.........................................3....k1.
.....Ksulz1.......kz.wzzz1.U..6.P....U5...kL....m....c3....F....6/...I1.....SF52
...U.qFG9yzb2zzzRYoWzz7lz16.pc..zXCc..kvrEtMc7xD6ocyFE0ujz1..........I.28.kFrA0.
.IXX.UYzyy9.6WWPM.psz.kNnmBoLVxj/EU0.wzzz1...........s/...................E.2c..
zzzz.............0...................2./8.kzzzD............8....................
/EU0.wzzz1...................................2CcN/UvNPcveeWCNq0.yRiibHJJUk1f..XR
SvBmx3CcN/UvNPcvQsLsUa3.ibhVi1bTV1OK.sSq4uCly3CcN/UvNPcvMwLsUa3.ibhVinqTV1OK.sSq
4uCkz3CcN/UvNPcv..EsUa3feeWCNqGQIJ36wk8EwyLsUa3f................................
E6...AE.W6E..........6....EGiFLNbJaQU.pPrJaQ.........................c..........
...................6./........zj................................................
................................................................................
.....................2.....3....0....wJEh3aSdtqN0x4S............................
.Q.............................E........Uz1.....................................
................................................................................
................................/....E/...U0....X3KSgJKSHJbQaZYFH/..............
............Cs....U.4MU/................sz1........../..........................
.....cNaNaNaNazD........kz1.......cJ.1.......O3k.......UK/A.....................
............................................}
{Titel: Mandelbulb 3D v1.8.9}
If you see the same as I do, you'll see something resembling the start screen of M3D. If you open the 3DNavi, you'll see a more accurate approximation of the set. If you switch on the second light, rerender, and then switch of the light you will see the intended result.