Oh it's there and not only in the menu.I used to have the "analog down" bug in emus, it happens that previous version of libogc didn't include every controller model. For example in WiiSX only one CC pro worked for me.
Never had problems with RetroArch though.
Also during gameplay the d-pad will hang at unknown intervals.
Left , right, up, down will hang sometimes during emulation.
There's no point posting the problem, the devs blame it on Wiiuse in libogc.
It's there in retroarch, but not present in other emu's, apps etc.