Thought I’d share… Appears to work with with buddypress (wp and bp are both current versions) if you add /members/ the (Starting with) URIs to bypass list and enable Do not cache the “404 – Not found” page.
These are what I have in the list for (Starting with) URIs to bypass as well:
/forums/
/groups/
/members/
/activity/
/blogs/
/messages/
/register/
/activate/
/cart/
/checkout/
/join/
/_wp/wp-login.php/
/members/