I think the compass is still broken as of the latest experimental (0.C-2934). It tried to tell me there was a zombie to the north of me, when in fact it was off to my west. It also told me a creature was to my due north, when it was actually NW of me.
These ‘readings’ were both taken when the screen was centred on my character, so I know it had nothing to do with the position of the camera…