This looks like the callout is specific to the close button. It should either be centred on the label or the whole tag.
Checked the fix in betalabs - the callout is placed centrally.
The fix is according to the prototype (http://pauginer.github.io/prototypes/edit-review/extended-filters/index.html), except for the background color of the callout:
QA Recommendation: Resolve
@Esanders is right—and wrong. The callout is now centered on the tag itself, which was the issue here. So I'm closing this ticket.
However, the little pointer that's part of the callout is not centered in the callout. I'm not sure how it's positioned, exactly, but it's always positioned to the right side of the callout. I don't find this objectionable, but I don't know what the intention here is .@Pginer-WMF, is that something you want to fix.
The biggest issue for me was the tooltip pointing to the "X" icon in the original screenshot. Now it can be seen pointing to the main tag body.
Ideally, we'd like the tip to be perfectly centered, but we also would like the tooltip to better adapt to the length of the content. So I guess a general ticket to improve the tooltip components in general can be a next step.