I found accidentally that the Epic burndown feature is not showing proper data, it simply ignores the sub-task estimations that are rolled up at the story level. It is inconsistent with Sprint Burndown charts, which (when set to work with time estimates) correctly shows time spent and remaining based on the subtasks.
So in other words, when you estimate effort for your subtasks only, which we do, we see the aggregated effort at the story level. However, in the Epic Burndown report, all our stories are UNESTIMATED.