To restrict a team to a specific project, the Project Groups is supposed to be left EMPTY, even though the PlaceHolder text says "Any Project Group".

A better UI design would be to have a box of Projects/Groups, where the autocomplete will include both groups (as "ProjectGroup*" or "ProjectGroup - All Projects") and individual projects (as "ProjectGroup\ProjectName").

In using this UI, a multi selection of GroupA* + GroupB\Proj1 is as obvious as GroupA* + GroupA\Proj2 (which would be obviously unnecessary and redundant)