Initializing a derived class enum with an (unlisted) base class enum of the same name

The following code (also on ideone ) looks like it shouldn't compile, but it works on MSVC 2008 and GCC 4.8.2

#include<iostream>

struct Base
{
    enum State { ON = 11 , OFF = 22 , STANDBY = 33 };
};

struct Derived : Base
{
    enum State { ON = ON , OFF = OFF };  // Huh?
};

int main()
{
    std::cout << Derived::ON << std::endl;
}

      

        
        
        
      

    

Does it meet the standard?