Redirect works but Rewrite Fails

My simple code:

<rule name="tester" stopProcessing="true"> <match url="^test$" /> <action type="Rewrite" url="/about"  /> </rule>

Here's the thing, if I set the action to "Redirect" my redirect works just fine.
If I set to "Rewrite", no rewriting occurs at all and I'm left viewing the content on my "test page" instead of my "about page".

Running IIS on Windows 7 64 bit

Any ideas Gurus??