Steps to reproduce:
1. Download and open attached project "764744_repro.zip"
2. Open scene "Main"
3. Open "Animation" tab (Window->Animation) and select "Cat Image (1)" from hierarchy
4. Press play in "Animation" tab to preview animation. Notice that animation not only shifts in space, but also rotates (See attached image)
5. Press play to start the game.

Actual result: Notice that animation only shifts in space (from up to down), but no rotation can be seen (see attached image)
Expected result: Both, shift in space and rotation are seen

Tested and reproduced on:
Windows 10
Unity 5.1.4f1, 5.2.4p1, 5.3.2p1, 5.4.0b3