Indesign 2025, Mac OS Ventura 13.7.2

I've created a bullet style with a nested style that applies a character style to the type up through the first ":".

I duplicated that style and changed the nested style setting to apply the same character style up through the first "end nested style marker".

When I set a paragraph to the second style, the type shifts position. No other change was made to the second style other than changing the parameters of the nested style.

I have no idea why this is happening. I cannot find a baseline shift or other setting that would be causing this. The second bullet is in the same text box, is not in a table, and there is no other character style applied to the text or text box that I can see.

Note in the screen shot, the baseline of the second bullet in the right-hand text box is shifted down. It is set to the second style which is an exact duplicate of the first except the marker for the nested style is set to go through "end nested style" rather than a colon.

Here is a link to a video:
https://www.loom.com/share/8fb3a2c9ac124a8b9747ab5aaecc1973?sid=d92bae21-ea39-4d71-9163-f1457e43ae1c