File/Open menu item opens the studio application directory as the location where the presentation files are looked for sometimes

This seems to only happen when the initial presentation is opened via command line and File/Open is the first way you open a presentation selection directory. In that case it doesn't update the default open directory and therefore File/Open defaults to application's current directory. If you select Save As or New, those will open dialogs with correct default paths, and after that File/Open also has correct path.