On opera 17 (build 17.0.1241.45) the instruction bar (.bblog-emblem-info) interferes with the editor cursor.
The handles and cursor don't align properly. You need to be about the amount of the height of the instruction bar above the visible handle for it to activate. When the bar is hidden in CSS the problem is gone.
Hmm, not be able to reproduce the problem.
All handlers did work perfectly for me on the same opera built.
Tried also without BBLog and also working as expected.
Can you maybe explain what handler you mean exactly (Emblem add, emblem select, emblem rotate, etc...)?
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I've added an image which should illustrate it more clearly
As you can see the cursor to rotate, move or scale the layer is higher than it should be.
I will double check if any Opera extension causes this.
edit: Shows the same behavior with all extensions disabled, aswell on a clean install of the latest developer build of Opera. It works fine with "Emblem Editor Improvements" disabled.