Using the cli to pack and specify the offset works, so must be a bug in the UI.
.\bfc4ntk.exe -p "C:\Users\xxxx\Documents\xxxx\CH341\M127 ROM\CAM-M127-A1-V1.0-ROM\
[email protected]" "C:\Users\xxxx\Documents\xxxx\CH341\M127 ROM\CAM-M127-A1-V1.0-ROM\
[email protected]" 000af000
However, merging...