I wasn't able to get a screen capture of this odd graphical bug.
Upon docking at Rokugara Island a little while ago, my buccaneer was greeted with the bizarre sight of the zone's Life Fountain rising into the air a short distance (there appeared to be a small white plume like a jet or rocket exhaust underneath it, but I may have imagined that) and traveling towards the far right of the screen. I re-boarded my ship before it went entirely out over the ocean, returned to the skyway, and docked again to get it back where it belonged.
I have no idea whether or not the bug is repeatable. If it helps any, the quest whose arrow I was following at the time was Chicken Take Out.