Has anyone noticed that -align seems to be aligning symbols the wrong way?

I have not comprehensively checked, but I think labels are OK.

But water-flow  is aligning opposite to what it should.

In the image below, the water-flow symbol is aligned bottom-right according to the context menu and the options text.

But you can see that the pdf symbol is aligned top-left.

Am using 5.4.1 + 88c8a06

It might have been this way for a while.