Using numbers 0 in the day or month field of the {{#time}} parser function can lead to unexpected results. For example
{{#time: Y | 2017-00-00 }} → 2016
{{#time: M | 2017-01-00 }} → Dec
{{#time: r | 2017-02-30 }} → Thu, 02 Mar 2017 00:00:00 +0000
{{#time: r | 2017-02-00 }} → Tue, 31 Jan 2017 00:00:00 +0000
The proper behavior would be to return "Error: Invalid time" as other out of bound numbers do:
{{#time: r | 2017-02-32 }} → Error: Invalid time.