The Cutwater Treasure Chest location is currently incorrect. It's located inside of a cave with entrance at 72.49 58.14.

I hearthed back to Boralus, tried Alt + RMB on it again. It displayed the correct location. Not sure if looting the chest updated the location, or if something happened initially that caused the location to be incorrect.

This object appears to have the correct coordinates listed. It's possible that the logic creating the waypoints via TomTom or the coordinates itself were fixed since this issue was posted.