No, that is not odd, that is the whole point of the image point.. :)
LOL, yea, it is. It's what some of us would call an anchor point. Should you decide to like rotate the sprite, it'll rotate around that image point. It tells Construct where to place the actual sprite image in relation to the x,y location you choose.
When you originally placed that sprite you looked at where you wanted the image. The actual location was down and right. When you moved the image point on the sprite, the x,y on the layout didn't change but the location of the graphic in relation to that x,y did.