Right – I’ve discovered it only under fairly specific circumstances – looks like a bug to me; I’d be interested to have other people try it out:
1. Create a new comp.
2. Using any of the shape tools (polystar is a good one – plenty of points to move around) hold down option/alt BEFORE and while dragging to create an editable path shape, not a parametric one.
3. Drag a guide onto the comp and ensure ‘snap to guides’ is on.
4. Drag one of the points around, all over the guides, with no snapping. You might have to open up the shape layer and click on the word ‘Path 1’ to get to the points without moving the whole thing.
5. Just to make sure that some snapping is on, drag the whole layer, and see it snap to the guide.
If anyone else can recreate this, I’ll send a bug report to Adobe. In fact we should all let them know about this.
– Paul