The reference manual says,
"Optional. Yes or No. Indicates whether the parameter is
passed as a null. If you specify Yes, the tag ignores the value
attribute."
You don't have a value attribute to ignore. Maybe that's it,
maybe it's not.
Just in case you use CF MX or CF 7 (this is from live docs):
Changed the dbvarname attribute behavior: it is now ignored
for all drivers. ColdFusion MX uses JDBC 2.2 and does not support
named parameters.