It looks like the event is generated every day, but it's not exactly so.
The start/end fields describe the first event which will also serve as a template (start time of day, duration, text, etc.) for the generated occurrences. If you use 4 September 2011 15:00 as start and 4 September 2012 16:00 as end, it will create a one-year long event starting on 4 Sep 2011. It will appear as 366 event parts on all subsequent days because that's how multi-day events are displayed if you don't mark them as all-day events. On the next Monday, the first occurrence with the same duration is added and it goes on.
If you use 4 September 2011 (instead of 2012) 16:00 as the event end it should be displayed correctly.