This is caused by the new Camera behaviour, but only happens for billboards objects.
By default, "Look At" feature is enabled for billboards, but since there is not any camera selected, they look at center of the FP object.
Please, try this:
a) If you want that billboards are looking to a Camera, just select it in the viewport (camera is assigned automatically), or assign it manually at "Camera->Look At->Target".
b) If don't want to use "Look-At", turn off the "Camera->Look At" checkbox.