The following wikitext:
[[File:Translating the wiki way.webm|thumb|400px|thumbtime=16:00|Niklas Laxström explains the features that allowed [[translatewiki.net]] to provide MediaWiki with more than 300 locales.|alt=Niklas Laxström, ''Translating the wiki way: Simple, fast, fun'', Wikimania 2012]]
Renders visually as:
That is to say, the alt text is not the caption. Rather, the bit that doesn't start with any with equals sign, is the caption. When editing the above in VisualEditor, it looks fine at first:
But, when without changing anything, or when changing something unrelated elsewhere on the page, it will be serialised incorrectly. This caused an unsuspecting user to save a dirty diff (revision 851249986) that also unexpectedly inserted use of <nowiki>.
[[File:Translating the wiki way.webm|thumb|400px|thumbtime=16:00|Niklas Laxström explains the features that allowed [[translatewiki.net]] to provide MediaWiki with more than 300 locales.|alt=Niklas Laxström, <nowiki>''</nowiki>Translating the wiki way: Simple, fast, fun<nowiki>''</nowiki>, Wikimania 2012]]
In addition to the dirty diff, it also does not roundtrip. After the above edit, re-opening it in VisualEditor now mistakes the alt text (including the syntax alt= itself) as the caption:
After this second save, the page remains consistently damaged with the caption removed.