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I got WP7 project using WP7 version of telerik libraries. I've created duplicate project that I migrated to WP8 and referenced the new WP8 Telerik libraries. Everything so far works as expected, but ImageButton is broken - the picture is positioned far to right.
See the picture, on the left is WP7 version with right image button, on the left the same XAML in a project refrencing WP8 Telerik libraries.