#4 - Sept. 11, 2011, 7:04 p.m.
This is actually not a bug. The level requirement that displays before making an item is an estimated level requirement. However, since affixs and item stats are generated randomly on item creation, it is possible that you will get a strong item, meaning the level requirements will be higher, and vice versa for weaker items.
If you want to give feedback about this to the developers, please post in the Beta Feedback forums. Thanks for bringing this up, but as of right now it is not a bug.