Oddity with connected nets

Schematic
1

I have a group bus, CYC, with multiple named signals (e.g., CYC.RESET). Two of its members are connected to different named nets (e.g., CYC.RESET connected to RESET_FF). ERC issues a warning about the connected nets and lets me know which net name it will use. This propagates correctly to the PCB.

But another bus member, CYC.LOOPBACK, is tied directly to the 5V net. Again, ERC warns me about the connected nets, and lets me know that the 5V net will be used. But it also issues a warning that CYC.LOOPBACK is not connected to anything. And the PCB shows the CYC.LOOPBACK pad not connected to anything. I expected to see that pad tied to 5V.

What’s different about these two cases? Why is the first case of two connected nets handled correctly (no unconnected nets) while the second case leaves the CYC.LOOPBACK net unconnected?

2

For the net name, I think power symbols (those are mostly fancy graphics for global labels) and global labels have precedence over hierarchical labels.

For the connectivity, I assume it’s some other issue. For troubleshooting, you can temporarily connect the pin to something else.