I had a similar experience. It seems to have cleared up at the moment. In an attempt to test other routes (I thought a major map mistake had been committed) I had chosen a new start point so that I could test some routes. After that, when I actually drove, I experienced the strange behavior that you saw. Somehow, I'm not sure really, I must have cleared the start point because now it seems to route from my current location. (Choosing my current location as the start point?) I haven't driven since then so I don't know if it has really cleared up.
Weirdly, a lot of road names are missing in the navigation list and they are not announced. These had been announced prior to the last update.
Somehow my navigation settings had been scorched. The option to announce names had been turned off -- but I did not do it. I put the setting back to the way I had it, and now it announces more names but many are still missing. My audio settings have also been scorched -- the speaker was turned off. I have restored this as well.
Hopefully this is all user error on my part and not related to the map update. I may uninstall and reinstall the app to see if that clears up any remaining problems.
May your waze be merry and bright! -scienceman
AM State College, Bellefonte, PA and surrounding areas