GPP HKCU registry setting not working for a new user with the "Apply once and do not reapply" setting.

I'm trying to use GPP to set a HKCU registry setting once only. To do this I'm using the "Apply once and do not reapply" setting. This works fine for a user that has previously logged onto the Windows 7 workstation, but is not working the first time a user logs onto a Windows 7 workstation.  Below is an example of one of the registry entries I’m trying to get applied only once.
 
Hive:                   HKEY_CURRENT_USER
Key path             Software\Microsoft\Office\14.0\Excel\Security
Value name        VBAWarnings
Value type          REG_DWORD
Value data          0x1 (1)