Sounds like All-in-1 Gestures to me.
Quote:
"Zoom In Image/Text", "Zoom Out Image/Text" and "Reset Image/Text Size"
These functions are a merge of Text Size and Image Size functions. If the gesture is started over an image, the image function is executed; otherwise the text function is executed.
They are the default functions for scrollwheel gestures.
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Disable that one, and see if the problem goes away. Also, make sure you have the most recent version of it.