What is this "ghost" rectangle in my sketch?

I'm debugging a part in my assembly that was causing views to zoom out way too far with respect to the physical extents of the model. I narrowed to culprit to a model of a label that goes on our product. In one of the label sketches containing only sketch pictures, there is a fixed aspect ratio rectangle that is only visible when the sketch is selected, not being edited, and Instant3D is turned on. I can resize the rectangle and drag it around with the Instant3D handles, but I can't figure out how to get rid of it or what it is. If I do a bounding box on the part, the ghost rectangle is not included, but if I do a view orientation, it is (see images). I can kludge a solution by shrinking it down to within the physical extents of the part, but I'd like to know what it is and how to get rid of it if it isn't just a bug. 

SolidworksSketching