DC offset trickery

You’re absolutely correct. When you understand what is happening, then the behaviour is not surprising.

but they do occasionally occur (though not as badly as my illustration), and cause a lot of confusion when they do.

I’ve been searching for a good “real world” example, and I’ve found one. It’s quite a nice trumpet sample that has no obvious clipping.
Try Normalizing this sample to 0 dB with “Remove any DC offset” enabled.

Also try the Nyquist DC offset tool from here (default settings): DC offset tool (plug-in) - #9 by steve