can anyone explain why there is an offset between the label and the move arrow? I have the same issue with the OOTB version, along with my own version. There is nothing hidden. If I move the label down, the move arrow moves too. My issue is that the location of the move arrow is causing the view reference to disappear when cropping. I don't want to have to stretch down my annotation crop all the time.
Hi @mvoss,
Hope you are well! 
"This appears to have been fixed in Revit 2017, cross hairs now sit below lowest text or label, aligned to the vertical origin reference plane. Previously it was 1'6" (about 460mm) below the lowest text and centred on all text, reference planes and reference lines were ignored...."
Have a look at THIS POST, there are quite a few examples of things which you can try.
I hope this helps!
