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This is working as expected.
When you create ZFS volume, a refreservation is automatically set that is a bit larger than
the volsize you specified so that that the volume doesn't run out of space. In addition to
sizing the volume, the volume must also account for changing metadata.
This is described in zfs.1m under the volsize description, here:
You will have to experiment with the volsize and provide a best guess .
On my updated S11 system, creating a volume with 290gb provides a volume with a refreservation of 299gb:
# zfs create -V 290g pond/vol1
# zfs get refreservation pond/vol1
NAME PROPERTY VALUE SOURCE
pond/vol1 refreservation 299G local