This seems like it'd be simple to fix, but I have been phutzing with it for an hour and I'm stumped.
Here's the deal:
1. When I flip the label, the Y offset triples.
2. When I toggle 'Flip Anchors With Text', it doesn't help resolve #1.
3. I have the border turned on in the label so that you can see the components do not fit inside; they're skewed. Now, if I turn off 'Allow Curved Text', the label components fit inside the border as expected - I suspect this is a bug.
Anyhow - just thought I'd put it out there and see if anyone wants to verify that this is strange behavior.
DWG attached - see 'Problematic Curve Label' under Multipurpose Styles.
Thanks!