( Update 6/7/17 - PaulSey... )
The fix is now available in mainstream builds 16.8210.2075 released on 6/6/17
This issue is fixed starting with build 16.0.8201.2025 which is now available as the latest update for those participating in the Office Insiders Slow program. It will be included in a future update for those not participating in Insiders.
For more information on joining Office Insiders see the Office Insider page.
Thank you everyone for reporting this issue!