I was recently playing as Castile (Spain) after the Treaty of Tordillas event. I had an explore and tried to discover an island belonging to France. Rather than revealing the undiscovered territory and remaining on the ship, the trading post was "captured" by Spain. That was odd, but I went on capturing other territories. Now, historically, territory under "Christian" rule ie. colonial territories of european countries were exempt from the terms of the treaty. Only pagan cultures could be conquered without a delcaration of war. I went back and read through the text associated with the event and it appears to be correct. I beleive this is a bug!
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