diff -r 7adbbf32444e src/term.c
--- a/src/term.c	Thu Nov 21 18:13:38 2013 +0100
+++ b/src/term.c	Sun Jun 01 06:02:51 2014 +0100
@@ -5055,7 +5055,7 @@
 
 	    /* Work out our pseudo mouse event */
 	    key_name[0] = (int)KS_EXTRA;
-	    if (wheel_code != 0)
+	    if (wheel_code != 0 && (wheel_code & MOUSE_RELEASE) != MOUSE_RELEASE)
 	    {
 		if (wheel_code & MOUSE_CTRL)
 		    modifiers |= MOD_MASK_CTRL;