Text watermark sometimes misplaced

Hello.

I've been using with no problem the graphic watermark in export for years. The -49,-49 position is always in the lower left corner, whatever image cropping or rotation.

Now I'm working with a text watermark (I need tokens) and the same placement is fine for uncropped/unrotated photos, but for *some* cropped/rotated photos it doesn't appear. If I try to place it manually (with the "hand" icon), I see that the working coordinates are not -49, -49 (and not consistent from photo to photo) — that is, in these cases -49, -49 places the watermark out of the cropped area.

Bug or am I doing something wrong?