Don't think it's a bug. Many of us do this sort of operation routinely without issue.
One point regarding your split clips, what I always do before a Project > Insert Time/Measures is to position the Now time where I want the split to be made, ctrl + a, then hit 's' to split all clips at that point.
Then deselect everything (ctrl + shift + a) then do the Insert
The only problem you might have is that any note which overlap your split will not preserve it's length with the right hand portion being discarded.
At least that's what I'm seeing on my system, don't know if there's a setting to preserve original length or not