It looks like some kind of Clip Grouping gone wrong.
Like the two clips are grouped so they follow each other vertically but for some reason don't move together horizontally.
The fact the clip that is actually being clicked and dragged eats the other is normal behavior. What isn't normal is how the second clip gets sucked into the other one.
What is the relation of the two clips? Were they recorded in the same pass? Are they grouped? What is the difference between the two clips that suck each other in and the ones surrounding them (the ones that do not move)?
This is all very odd.