Track A has arpeggiator, send to track B MIDI only
http://imgur.com/cHLQiW5
Output is early by a noticeable amount.
If we use the action Item: Apply track/take FX to items (MIDI output)
You can see the problem clearly even without sending to another track.
http://imgur.com/hnWJOTx
No problem doing the same with 3rd party plugins like Kirnu, Cream, Beatstep or with JS MIDI Sequencer Baby.