I noticed years ago that the Bend It effect looks incorrect in most cases when the value is set to zero. I usually fix it by setting the value to 0.1 or something like that. Please be aware of it, maybe it's very fast to fix.
Thank you for making this report. We are able to reproduce the same glitch you've mentioned and will be opening a ticket to further investigate.
We've recently moved our user feedback from UserVoice to the Adobe forums in the dedicated Bugs and Ideas sections for After Effects. This allows us to better communicate with you on these issues and receive additional support from our Community Experts as well.
That's certainly interesting. It must have slipped in somewhere along the update line. I tried to replicate it here at home on CS6 and it doesn't produce the same glitch. Judging from your clip it looks like the deformation matrix is not handling some overlap/ folding correctly. I'm moving this up to bug status and we'll see if the developers pick it up.
Probably an issue specific to your shape layers and how you use the effect. Since you're "zoomed in from space" and haven't selected the effect so the controls are visible nor included the effects control panel we can't really gauge what's going on. A full size screenshot with the comp at 100% / Full res would probably be more useful.
Hi Mylenium! Thanks for reaching out, I would really like to make this a kind of Adobe DVA request (adobe-video.uservoice.com), not a forum question. Adobe DVA website sent me here since it got closed.
It's the problem of the very effect, not the usage of it, a lot of my colleagues faced it and you can face it too if you try. I don't need a solution, I need a bugfix from the developers.
Here is a video example of how it happens on different shapes and types of footage, be it jpg, ai, ai rasterized, precomp or shape layer. The problem gets especially vivid when the end point is far away.