put it on our test server, it didn't work

Spawned in myself, loaded up my inventory, tp'd to airfield, died, respawned, everything gone but stone and torch.  

No-Drop only prevents your body from drooping active items/backpacks from the corpse when you die, it is not designed to restore / give back your items.

But Death Modifier is designed to keep your previous inventory. 

Changed Status from Pending to Not a Bug