2) start emacs with emacs -q

3) set org-cycle-separator-lines to -1

4) hit shift-tab

The displayed file is then:
------------

* item1...m

* item2
--------------

Note the erroneous inclusion of the "m" after the ellipsis.

Please let me know if there's any other information necessary or if you have any trouble reproducing this.

Thank you,

Michael Crouch

Emacs  : GNU Emacs 24.5.1 (x86_64-apple-darwin13.4.0, NS apple-appkit-1265.21)
 of 2015-04-10 on builder10-9.porkrind.org
Package: Org-mode version 8.2.10 (release_8.2.10 @ /Applications/Emacs.app/Contents/Resources/lisp/org/)

current state:
==============
(setq
 org-tab-first-hook '(org-hide-block-toggle-maybe
              org-src-native-tab-command-maybe
              org-babel-hide-result-toggle-maybe
              org-babel-header-arg-expand)
 org-speed-command-hook '(org-speed-command-default-hook
              org-babel-speed-command-hook)
 org-occur-hook '(org-first-headline-recenter)
 org-metaup-hook '(org-babel-load-in-session-maybe)
 org-confirm-shell-link-function 'yes-or-no-p
 org-after-todo-state-change-hook '(org-clock-out-if-current)
 org-src-mode-hook '(org-src-babel-configure-edit-buffer
             org-src-mode-configure-edit-buffer)
 org-agenda-before-write-hook '(org-agenda-add-entry-text)
 org-babel-pre-tangle-hook '(save-buffer)
 org-mode-hook '(#[nil "\300\301\302\303\304$\207"
           [org-add-hook change-major-mode-hook org-show-block-all
            append local]
           5]
         #[nil "\300\301\302\303\304$\207"
           [org-add-hook change-major-mode-hook
            org-babel-show-result-all append local]
           5]
         org-babel-result-hide-spec org-babel-hide-all-hashes)
 org-ctrl-c-ctrl-c-hook '(org-babel-hash-at-point
              org-babel-execute-safely-maybe)
 org-cycle-hook '(org-cycle-hide-archived-subtrees org-cycle-hide-drawers
          org-cycle-hide-inline-tasks org-cycle-show-empty-lines
          org-optimize-window-after-visibility-change)
 org-confirm-elisp-link-function 'yes-or-no-p
 org-metadown-hook '(org-babel-pop-to-session-maybe)
 org-cycle-separator-lines -1
 org-clock-out-hook '(org-clock-remove-empty-clock-drawer)
 )