@djrulz – did you ever find a solution to this?
Worth noting that this issue continues even with all plugins deactivated.
EDIT:
On further inspection I realise that if I select alignment none for the image everything works as it should be any of ‘left’, ‘center’ or ‘right’ prevent the link url from being updated.
I’m experiencing an identical problem. Did you ever find a solution? WordPress 3.2.1
