thread-bound? returns true for a non-binding thread, this result (according to the docstring) implies that set! should succeed. However, thread-bound? does not check that any binding that might exist was created by the current thread, and calling set! fails with an exception when it is called from a non-binding thread, even though thread-bound? returns true.

thread-bound? should return false if there is a binding, and that binding was not established by the current thread.