I know this was asked a long time ago, but I'm having the same issue (using cocos2dx 2.2.2). Attached is a recording showing what is happening, an CCSprite is shown and then the CCFadeOutBLTiles Effect is applied to it. However the effect has some weird results:
the position is changed (regardless of what is happening to the layer / camera positions), and the top 5% of the image is stretched before the tile effect begins.
I have used the normal FadeOut action and that works fine, and just as @lordubik has tried, the other Effects (FlipX, Twirl, etc) have the same problem. Currently the sprite shown has had the ScaleX changed, but I have tried without changing it but I have the same results.