Wireless Stick Lite (Panda Board) deep sleep still consumes 30mA when voltage drops below 3.3V

I used the example Low_power. This example drops current to 0.01mA. However, If the voltage drop at 3.3 pin drops to 3.2 or 3.1 then it does not go to sleep mode it starts consuming 30mAs.

Should not it work until the voltage drops to 2.7V at 3.3 pin?