Hunter I logged in to post the same in the bug report. Thanks for the screen shot, it depicts the same that I have also experienced.
The serious side of this "lag / reconnect" issue is that as far as I can tell, I can operate off the "phantom fleet" (or should I call it "Ghost Ship") where it exists on my computer. Let me explain, that on my computer the phantom fleet allows me to spawn/ and possibly gun from the location of the icon, not the actual location that is represented by the rest of the arena.
I know this for a fact, as I was discoed and returned to my aircraft during a squad mission. My squadmates must have thought that I lost it when I was reporting my location when I relaunched from the same CV that they were circling to recover me for the mission. Sometime later, I eventually caught up to them a sector or two away by following their communications and dar dots, sometime after that the fleet's location was corrected to what others in the arena were reporting and seeing. In this and every such occasion since that involves missed placed fleet, I have seen the path of the fleet in one location and the physical fleet in another.