Sequencer Attach track appears more offset than expected when using override instance data

When using an attached track in combination with enabling override instance data it appears as though the object used in the attached track is offset more than expected (appears to be by roughly double)

1. Download the attached project
2. Open the project
3. Open "NewLevelSequence"
4. Click play on the sequencer (not in PIE) (The cone should sit on top of the cube)
5. Play in Editor

Result: The Cone will appear way ahead of the cube as though it has been offset by twice the value used in the Transform origin setting for the sequence
Expected: The result in PIE would match the result given when scrubbing the timeline in sequencer