What is the reason the view isn't rotated around the selected object? Using v2.79.

I wonder why the view isn't rotated around the selection, in some cases, in spite the related setting in User Preferences is set to Rotate Around Selection.

An example below, which was obtained this way: 


I had the yellow cube showing the problem. I determined approximately the point of rotation of the view and set a yellow empty to show it.
Then I tried with a new object, the red cube. This cube hasn't got the problem, the view is appropriately rotated when this one is selected.
I duplicated the yellow cube and empty into blue ones, and changed the location and direction of the blue pair. The blue cube shows the same problem, and the point of rotation of the view is located at the same relative positive (indicated by the blue empty).


  

File: rotation.blend

In case that would help to explain, the initial cube was previously used for some tests with a Displace modifier.

What is the reason I cannot rotate the view around the yellow/blue cube when selected?
Go in Edit mode and select all, as you can see you've accidentally created a vertice far from the origin point of your mesh, it completely moves the rotation centre of your 3D view (as the Rotate Around Selection option, in the User Preferences, seems to consider the Geometry Origin, not the current origin of the object, as its pivot point):



In Object mode, if you selected this object, you weren't able to see this vertice, it looks like you can see edges and faces (surrounded by an orange line) but not isolated vertex.