I'll try to address a few topics in one post. But, first, the early indications are that my theory that it is the graphics (actually the faceting/tessellation) is not correct, and that @wersy is correct, and there is an actual geometry problem here. More as we find out more about this model.
"Whose graphic is wrong in this case. My graphic or Fusion's?"
If it had been a graphics issue, it would have been Fusion's. And, even, "graphics" is not really accurate. It is really "faceting", but that term is not widely understood, so I usually just say "graphics". Faceting is the process where a 3D model is converted into triangular facets, usually for display in a graphics window. Graphics cards, today, only understand triangles, so this is necessary to be able to see the model. But, this faceting is always an approximation to the real underlying surfaces. My theory that this was faceting is because I have seen many models that show these kinds of issues that did turn out to be just a faceting issue.
"What is the connection between graphics and STL?" (this was not directly asked, but implied by "I think there is more to it than "meets the eye"", and "it would be nice to know how this really works").
STL is also a triangular mesh, so the same exact code is used to convert the model to graphics and to STL. By default, I think, the same default level of approximation is used for graphics and STL faceting. Both are possible to change: With the set level of detail on a body (for graphics), and the accuracy settings in "Save as Mesh". Sometimes (not always), faceting errors can be corrected by varying the parameters for the faceting.
hope this helps.
Jeff Strater
Engineering Director