OP here, and I'm surprised. It hasn't happened to me since I filed it. Interesting.
We haven't seen a mod comment in a while, I feel like this bug isn't getting enough attention. [Mod] Kumasasa bumped it recently (check Transactions Summary) but still. Those who use Twitter, maybe you could tweet about this?
Adding 1.6.1 as well.
I have not had this issue since I posted it, FYI. Might it be client lag related?
Edit: Also, added 1.6.2 to affected versions. Thanks Qwert.
Oh I think I figured it out. Here is the story; I wanted to try the update, so I did not search for mods I use, which includes a HD texture pack patcher. When I updated, I had a HD t.pack (broken since I have no patcher) and arrows did that. Then I downgraded so I could play on servers still. I played on 1.4.2 to test it again and I realized it works fine with default t.pack. Thanks for your interest, have a good day!
No, similar but no. My problem is it bounces of facing down/backwards close to you, like there is a ghost block. Then it just lands where it should land.
Added 1.8.2 to affected versions list.