I’m having the same issue. Have just updated to WP3.5 and BP1.6.2.
On inspection it appears that the jcrop handles are absolute positioned but with no top/left/bottom/right values. As such they’re all appearing in the top left. I can right click and edit each one to add the values (ie SE = bottom 0 and right 0) and once done this fixes the issue.
Am I going to have to hard code these into my own style sheets?