Hi,
This is a CSS/skinning issue, it may vary by skin and can be fixed by CSS changes. I found this issue exists in artisteer-24verticalmenu2 skin for example, and was able to fix it by modifying the mypage.css file.
I changed:
.userpagemenucontainer ul.userpagemenu ul { width: 140px; left: 3px; top: 23px; }
to
.userpagemenucontainer ul.userpagemenu ul { width: 140px; left: 3px; top: 20px; }
and that fixed it for me. Note that you need to clear the server css cache (touch Web.config) and clear the browser cache after making this change.
Hope it helps,
Joe