If you raise the HUD, it will move your hotbar and chat, but the hitboxes of chat tooltips will stay in place. Here's an example that you can see when trying to hover over a player name with advanced tooltips on: (you cannot see my mouse in this screenshot, but I placed it where my name would be if the HUD wasn't raised)

This happens regardless of my installed mods, so ignore the additional HUD elements.

Thanks I'll have this fixed in the next release!