Your results are in .js files, and it looks like it just doesn't work when "use exclude settings" is selected, and sure enough the output pane shows an exclusion for **/*.js. I don't see you trying it with "use exclude settings" + src so I don't know that src vs ./src makes a difference.

There must be an exclude setting in your user or workspace settings for **/*.js.

@roblourens I do have this:

    "files.exclude": {
        "**/.git": true,
        "**/.svn": true,
        "**/.hg": true,
        "**/CVS": true,
        "**/.DS_Store": true,
        "**/*.js": {"when": "$(basename).ts"}
    },

Oh, I do lose the 'when' clauses when searching with ./. Thanks for the report!