A new OS install and new hard drives on the same exact machine made the problem go away.
Unfortunately I have no idea how to reproduce the issue in this case, and I have no idea of how to determine which software might have caused the issue.
The bug still persists in the current version, and it doesn't seem to be confined to happening after exiting menus. A video of the bug. I attempt to toggle mouse "smoothing" by pressing F9 about half way, and I keep turning left when moving my mouse to the right, until I gradually "slow down" and then begin to move to the right.
I'm not sure if the problem is with Minecraft itself or with another application interfering at this point.
Here is a screenshot of my Control Panel -> Mouse settings. I don't think anything is out of the ordinary: http://i.imgur.com/iEjCpZm.png
I'm going to end up reinstalling Windows on this machine next week, which will probably fix the issue anyways, but I'm curious because I have no idea why this is happening. I'll try to get a video up soon of what the issue is.
I deleted all data pertaining and the issue seems to still persist on this computer. I deleted the ".minecraft" in AppData\Roaming, and I checked to make sure no compatibility options are checked. It also persists with a different mouse on a different USB port.
Are there any other minecraft files I might have missed or Java options that might be worthwhile to investigate? It may also be worthwhile to note that nVidia's 320 drivers are known to be slightly buggy, and that the laptop had ATI.
I tested using the same mouse on a different computer, MacBook Pro Early 2011, with a fresh Windows 7 x64 Bit install, Java 7 update 25, and was also unable to get the same issue.
I have a generic Dynex wired mouse I will try when I get a chance on the original computer, and if it still persists, trying to completely wipe Minecraft off my computer and reinstalling, to triple check that I am using a clean copy.
I don't have this issue, after an OS reinstall it went away in the previous, so it was my own fault. Could you close it again?