Created attachment 101164 [details]
Example spreadsheet, ready to perform the insert operation.

Problem description: 

Steps to reproduce:
1. Enter the following elements into a new spreadsheet:

B1 1
C1 x
B2 2
C2 y

A3 =SUMIF(C$1:C$2, "x", B$1:B$2)

A3 calculates 1 (correct).

Select column A by clicking column header. Shift-click column B header to select columns A&B. Right-click and choose "Insert columns left"

Current behavior:

Moved A3 cell (now at C3) incorrectly recalculates the cell references:
=SUMIF(E$1:E$2, "x", B$1:D$2)

Expected behavior:

Moved A3 cell (now at C3) correctly recalculates the cell references:
=SUMIF(E$1:E$2, "x", D$1:D$2)

Note: if you perform two single column inserts on column A rather than one insert on columns A&B, you get the correct result.

Operating System: Windows 8
Version: 4.2.4.2 release