https://en.wikibooks.org/wiki/Cg_Programming/Unity/Billboards
There is something wrong with this Shader in Unity5.3
Here is a Cube with this Shader, it’s correct

But When I Duplicate it, it’s totally wrong.

Why?
https://en.wikibooks.org/wiki/Cg_Programming/Unity/Billboards
There is something wrong with this Shader in Unity5.3
Here is a Cube with this Shader, it’s correct

But When I Duplicate it, it’s totally wrong.

Why?
That shader relies on the object’s pivot being the center of the billboard. When you have two objects with the same shader Unity might try to batch them, which means combining the meshes into a single mesh, which means the center of the mesh is no longer at the center of a box but between them someplace.