I have set up a Check report with validation rules and validation entities. When I run the report after an export to HFM, the individual validations are showing an error which is correct. The report though is still showing Pass and I get the fourth fish. I am using FDM version 188.8.131.52.00
This is currently a known issue that is being fixed. There is a patch that is currently being tested for release to address the issue.
I would suggest creating an SR to see if you truly meet the criteria and can obtain an early release.