Viewport Display Bug - Transparent Background

I made a copy of Pen and changed the Objects to Shade and the Background to Transparent. When I then change the camera I get this trippy experience

Have I misinterpreted Transparent? Or is this a bug?

Work In Progress
(6.0.15286.10591, 13/10/2015)
SN: 4-1600-0106-100-0000609-64035

Thanks for the report… looks like a bug with the transparent background option. I can reproduce it making a copy of Shaded and changing the background too. Filed as

Thanks Brian