The second param of listsinceblock appears to be broken as it doesn't seem to affect the output for my scenario.
Here's some example output from a private testnet:
$ bitcoind -datadir=1 listsinceblock 00000000e1ca9ecc09bbcd03c0c2d208424e09af13f1cc7772aebf5db8268112
{
"transactions" : [
{
"account" : "",
"category" : "immature",
"amount" : 50.00000000,
"confirmations" : 1,
"blockhash" : "00000000a2638ab449ccc10a3af88c27144a90c6db8f0ba30316b4a24064512a",
"blockindex" : 0,
"txid" : "c7a498a50d7cd8af1c6f5e1446772dd0575d1f4472524634229bb0b05caa488b",
"time" : 1335499077
}
],
"lastblock" : "00000000a2638ab449ccc10a3af88c27144a90c6db8f0ba30316b4a24064512a"
}
Everything appears to be ok there, now if you set the second param, target-confirmations to 2, you would expect that transaction to not appear:
bitcoind -datadir=1 listsinceblock 00000000e1ca9ecc09bbcd03c0c2d208424e09af13f1cc7772aebf5db8268112 2
{
"transactions" : [
{
"account" : "",
"category" : "immature",
"amount" : 50.00000000,
"confirmations" : 1,
"blockhash" : "00000000a2638ab449ccc10a3af88c27144a90c6db8f0ba30316b4a24064512a",
"blockindex" : 0,
"txid" : "c7a498a50d7cd8af1c6f5e1446772dd0575d1f4472524634229bb0b05caa488b",
"time" : 1335499077
}
],
"lastblock" : "00000000e1ca9ecc09bbcd03c0c2d208424e09af13f1cc7772aebf5db8268112"
}