Wireframe : new feature or bug?

Editing 4K footage in a 1080p timeline.

Scale set to 50% (as in Fit)

100% wireframe is showing in the Program Monitor with Direct Manipulation set to On

Suppose this is more of a bug as moving the clip around makes it the clip all jumpy.

Putting all the clips in a new sequence solves the issue temporary.

W11 pro

26.3.0.9