First time I've seen this. I moved my NI content from an older SATA drive onto an M.2 drive to speed things up. When I hit "Relocate All" it show the NI products as expected, but also showed a lot of other products from Waves and other companies. None of these had been moved, or even had libraries. Once the NI stuff had been relocated the "Relocate all" option disappeared as I'd expect. The other products all work perfectly even though they were shown as still needing locating.
Anyone else seen the same thing?