My friend noticed something weird and I was able to repro.
Setup:
A bone with slots and images under it.
1) With Image Compensation turned on,
2) and the Axis set to Local.
3) Drag the bone around, the image should stay in place.
4) Type a value in the x Translate textbox, the image should stay in place
5) Type a value in the y Translate textbox, the image moves. <
this is a bug[/b]
6) Repeat 3-5 with the Axis set to World or Parent and it works fine.