My take is this:
The cap has a rather large check ball system built in, always did. Retainer cap has three holes. They used to have a full rubber gasket that covered these holes, and the gasket had smaller holes. Problem was the rubber would shrink and harden, blocking these tiny vent holes. Now with just the ring gasket, this is not an issue, but there is a lot more opportunity for fuel to escape. The check ball works if the bike is down but splashing allows a path through.
Solution (with a warning):
I added a small alloy shorty vent hose cap, with its own check valve, because I run a Scotts damper anyway and another hose gets in the way. Has worked very will for years on my '07 and on my '12 since new. Sunday was first harescramble of the year. It was freezing and snowing at my house Sat night with my bike loaded in my truck for a 4AM departure. It was just as cold Sun AM. Well, bike starts up and dies on the way to the line. Thought it might be plug as it was really cold. Pushed bike back to truck and changed plug, bike starts, go to line. Bike dies on line warming up.
Will not start until many rows are gone, I finally get off with the C200s.
Runs OK and dies in the woods a few min later, but its cleaned out now. Open gas cap and air rushes in. Little vent hose cap/valve is frozen closed, blocking vent!
Bang it on the bars a few times, check it and now good. Bike starts right up and runs awesome.
So, this is a decent solution just check that its open before a race especially if its freezing.