I searched for this but the summaries I found didn't seem to describe my issue.
I think "Defect" accurately describes this. I chose P2 because there is a
workaround. Here it goes:

1. Create a list in Impress.
2. Modify the style of the list (change the bullets and position of sublevels)
so that it's not the default anymore.
3. Create a multi-level list.
4. Try:
  4.1 to cut a bullet and paste it elsewhere;
  4.2 to cut a word from the middle of a sentence in a bullet and paste it
elsewhere;
  4.3 to cut a word from the middle of a sentence and Edit -> Paste Special ->
Unformatted Text.

5. Observe: 4.1 and 4.2 above messes things up (pastes cut text and reformats
pasting location to default list format). 4.3 is a workaround and is the
behaviour I would expect when cutting and pasting bullets.

6. See attachment to skip steps 1-3 above.

So basically, when I create a list style, I want it to stay in effect when I cut
and paste stuff within the list.