Sorry, I don't know terminology. I will attach screenshot for it.
I select same shape and get different result.
Please look attached screen.
It about new for 4.4 TextBoxes.
I draw shape, then Right-click and select "Text Box" only.
I show it on rectangle, but on oval it more effectually :)
Created attachment 109825 [details]
As you reported it, if a rectangle or an ellipse is selected out of the Basic shapes, and a Text box is neeeded, it will be not centered but applied upwards into the form.
I reproduce it with LO 22.214.171.124.beta1
Build ID: 9af3d21234aa89dac653c0bd76648188cdeb683e
& Windows 7 Home Premium.
I set Status to New and lower Importance to Low Trivial.
Still present in 126.96.36.199
This feature doesn't work correctly with simple shapes, only with "Custom Shapes" (Import is also not implemented, see Bug 84942). The "Add Text Box" menu item removed for such shapes in , so let's mark this one as FIXED.