Held items look lower than normal, you might have wanted this but im gonna put this here just so you know and that way i can get a yes this is a bug no thats how its meant to be reply.
Screenshot related, 2 Mc versions showing the difference.
Environment
I dont think this effects it but:
Java 8 64 bit update 51
Windows 10
this has already been fixed for the next snapshot
MC-82928