I am unable to reproduce the behavior you described in Chrome or any other browser. If you had already added the item to your cart anytime within the previous 24 hours, it would still be in your cart after you added the Item Expiration date and tried testing that.
I'll mention to Development that, if practical, it may be a good idea to check cart contents against their Item Expiration dates, so if an item expired after it had been added to the cart, it should be removed before checkout.