It's not exactly a bug, more like an improvement to a new feature.
With the new "/setworldspawn" command, it would be logical to make compasses point to the new world spawn. I'm sure many players would appreciate that, especially in singleplayer.
Linked issues
is duplicated by 2
Comments 4
As noted in duplicate bug report MC-42266, the world spawn coordinates are replicated to players upon respawn after death. The command needs to replicate the new coordinates immediately to all players in order to correct this bug.
To make it easier for the mods, related issues:
1) MC-518 - sleeping does not update compass (works as intended)
2) MC-679 - returning from Nether updates compass temporarily (bug)