Docbook inlineequation/graphic to html

I'm trying to convert docbook xml -> fo -> html 
--- my docbook fragment ---
<inlineequation>
	<alt role="tex">p_j^i</alt>
	<graphic role="html" fileref="math/1.png" format="PNG"/>
</inlineequation>
--- end (my docbook fragment) ---
using docbook-xsl stylesheets (fresh export from CVS), xsltproc,
passivetex, dvi2bitmap with the following parameters:
<xsl:param name="passivetex.extensions">1</xsl:param>
<xsl:param name="tex.math.in.alt">latex</xsl:param>

But in resulting html my _inline_ equation is placed into <div> element.
Grepping through the stylesheets I found this quation template:
--- equation template ---
 <xsl:template match="graphic">
   <xsl:choose>
    <xsl:when test="../inlineequation">
       <xsl:call-template name="anchor"/>
       <xsl:call-template name="process.image"/>
     </xsl:when>
    <xsl:otherwise>
      <div>
        <xsl:if test="@align">
          <xsl:attribute name="align">
            <xsl:value-of select="@align"/>
          </xsl:attribute>
        </xsl:if>
        <xsl:call-template name="anchor"/>
        <xsl:call-template name="process.image"/>
      </div>
    </xsl:otherwise>
  </xsl:choose>
</xsl:template>
--- end (equation template) ---
It seems that my inlineequation (actually graphic) is placed into <div>
due to mistake in the <xsl:when test="../inlineequation"> test, instead
<xsl:when test="parent::inlineequation">. Am I wrong?

Dimitry.