It's not reflection, it's the opacity - I placed a red cube behind the object, and a blue cube in front of it, and you can see the red cube through it but no reflection of the blue cube.
From what I can see, this is expected - the decal has opacity, it's replacing the opacity of the original plane, so now you can see through the plane based on that opacity.
PS - if you are using Corona 10 daily build, you can disable "Replace Opacity" which I think may be the effect you are looking for.