Version: 49.0.2623.112 
OS: ChromeOS 7834.70.0 (Official Build) stable-channel samus

What steps will reproduce the problem?
(1) Pair a Bluetooth device (e.g., headphones) to a Chromebook Pixel 2.
(2) Turn off the headphones so they are disconnected from the Pixel.
(3) Turn on the headphones.
(4) Click on the Profile image > Bluetooth menu. See the name of the headphones at the top of the pop-up menu.
(5) Click on the name of the headphones to connect to them.

What is the expected output?

While connecting to the device, the device name should be in boldface and the word "Connecting..." should be shown.

What do you see instead?

The device name is boldfaced and "Connecting..." is shown very briefly, but then disappears and returns to normal font weight.

My guess is that the UI element is being refreshed and reverting to its original (non-boldfaced) state. However it's not clear if the Pixel is actually trying to connect to the headphones.