The :limit property shouldn’t influence the number of printed digits. It seems to me that the requested possibility has been disabled in #24651. I will double-check and make a PR if needed.
I am not sure, but as far as I can trace this down (for the example above), I think the problem is related to this method of show. There, :compact => true is set, perhaps overwriting what may be defined by the context of io. Is this correct?
As a side remark, the hack proposed here actually works: