Dancing Strikes and dps tooltips. Something doesn't add up

I am starting to build a rogue using Dancing Strikes as the main skill (not optimal, I know), and there’s something weird with the tooltip.

It clearly says that it add 1% dps for each 3% attack speed the player has.
So the tooltip tells me my DS currently does 127 dps. I have 32% melee attack speed on the character’s spreadsheet.

If I remove the white jade amulet (12% melee attack speed, no other modifier) that I had equiped, the melee attack speed falls to 19% (as expected), but the dps displayed on Dancing Strikes go down to 110 dps.

That’s a lot more than a 4% loss from -12% attack speed.

Am I missing something?

The tooltip can be a bit wonkey at times. I wouldn’t be surprised if the tooltip was applying the % more damage per AS as well as the usual effect of AS (which has no effect on Dancing Strikes). Or that it’s only applying the normal effect. Either way, probably Bug Reports.